TimesOnline – The world’s largest listed hedge fund manager reported forecast-busting annual profits yesterday, boosted by a recovery in its flagship $21 billion AHL fund.
Shares in Man Group, which last week snapped up its smaller rival GLG for $1.6 billion, soared as the hedge fund manager said annual pre-tax profits had hit $541 million (£371 million). The result was 27 per cent lower than last year’s figure of $743 million but higher than the $530 million that City analysts had pencilled in.
