Financial Times – Mixed returns and heavy redemptions from clients at Man Group underscored plans to acquire rival GLG Partners, management at the FTSE 100 listed hedge fund said in its full-year results released yesterday.
Pre-tax profits at Man, one of the world’s largest hedge fund managers, were down 27 per cent to $541m (£372m) on revenue that dropped 46 per cent to $1.35bn for the year to March 31.
