Hedge fund giant eyes a bounceback

Evening Standard – This year could see the bounceback of the hedge fund industry after a pretty disastrous 2008, Peter Clarke , chief executive of the world’s largest publicly quoted hedge fund manager Man Group , said today.

But news that the group took a $900 million (£565 million) hit on its funds in the final week of March, just after its most recent trading update, pushed the shares 10% or 25p lower to 225p.

Despite confirming a 40% fall in Man’s dollar profits for the year to the end of March and a 37% drop in funds under management, Clarke said: "Certainly 2009 has begun very well for the hedge fund industry with positive returns across the industry overall."

Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , . Bookmark the permalink.

Comments are closed.