August 1, 2006 – London – Man Group plc, a leading global provider of alternative investment products and solutions as well as one of the world’s largest futures brokers, today announces thatMan-Glenwood Lexington TEI, LLC, its Securities and Exchange Commission registered fund-of-hedge funds, is making available its Class I units.
Man-Glenwood Lexington TEI, LLC with its investment minimum of $25,000 is designed for US qualified individual retirement accounts and tax-exempt investors. It provides qualified US investors access to the portfolio of an established multi-strategy fund-of-hedge funds with a track record dating back over thirteen years. The fund is managed by Glenwood Capital Investments, LLC, a leading US fund-of-hedge-funds manager and a wholly owned subsidiary of Man Group plc.
Two types of units for Man-Glenwood Lexington TEI, LLC now exist and have been designed to address the distinct requirements of investors from both broker-dealers and independent investment advisory firms. Class A units exist for eligible investors of commission-based advisors. Class I units have been created specifically for eligible investors of fee-only financial advisors that are compensated directly for their advisory services from their clients and for institutional investors.
“We see a growing demand from US fee-only advisors and institutions for our products and are pleased to have available Class I units to facilitate this market sector†says John M. Kelly, President and CEO of Man Investments Inc.
Man Investments Inc., a US subsidiary of Man Group plc and a member of the Man Investments division, is the fund’s primary distributor and will distribute the fund through its US network of intermediaries. The Man Investments division has been at the forefront of the international alternative investment industry for two decades. The firm has launched over 450 alternative investment vehicles in many countries, and manages over $54 billion as of June 30, 2006. Based in London, Man Investments has offices in 16 countries including offices in Chicago, New York and Toronto.
For more information, please visit www.mangroupplc.com or contact:
Man Group plc
020 7144-1000
David Browne
[email protected]
UK Media contact: Merlin 020 7653 6620
Paul Downes 07900 244 888
Lachlan Johnstone 07989 304 356
US Media contact: Walek & Associates
Armel Leslie (212) 590-0530
[email protected]
About the Fund
Man-Glenwood Lexington TEI, LLC allows eligible investors with tax-advantaged status — pension plans, employee benefit plans, foundations and endowments, and individual retirement accounts (IRAs)– to invest with a minimum of $25,000. The fund is designed to eliminate unrelated business taxable income (UBTI) which is otherwise taxable to tax-advantaged investors. The fund is a closed-end investment company that uses a fund-of-hedge-funds strategy designed to preserve capital and generate attractive returns that have low correlation with traditional stock and bond markets. Man-Glenwood Lexington, LLC invests in the same portfolio and is designed for taxable investors with commission-based advisors.
About Man Group plc
Man Group plc is a leading global provider of alternative investment products and solutions as well as one of the world’s largest futures brokers. The Group employs over 4,000 people in 16 countries, with key centres in London, Pfäffikon (Switzerland), Chicago, New York, Paris, Singapore and Sydney. Man Group plc is listed on the London Stock Exchange (EMG.L) and is a constituent of the FTSE 100 index. Further information on Man Group can be found at www.mangroupplc.com.
