NEW YORK (HedgeWorld.com)–The world's largest freestanding hedge fund business, Man Group plc, has raised US$2.2 billion in the three months to Dec. 31, 2004, and estimates assets under management at US$42 billion, up from US$38.4 billion as of Sept. 30, 2004.
According to a statement, redemptions were US$1.3 billion during this period–at the low end of the annualized long-term range. Redemptions by private investors were US$0.7 billion.
Man's share price has been buffeted by fear that asset growth is stalling and returns on investments are too low. The latest number had a reassuring effect today, with Man up 30 pence, to 1402 pence (US$26.35), on the London Stock Exchange as of press time.
