Man Group's latest hedge fund product launch has raised over USD 2.3 billion of client money, well in excess of the company's own USD 2 billion estimate.

The launch was structured as multiple offerings of the Man IP 220 product in a number of different currencies targeting different regions. The Man IP 220 concept has proved to be one of the group's most successful product paunches, and like its predecessor, the latest launch provides investors with access to two of Man's most successful investment approaches, the Man-AHL Diversified Programme and the Man-Glenwood Portfolio.

'This is by far the largest global private client launch of a hedge fund product ever done, and the strong demand follows the product's return for investors of more than 300% over nearly a decade,' says Stanley Fink, chief executive of Man Group. 'It is a significant milestone for Man Investments and for the hedge fund industry as a whole, which we have achieved by leveraging our global relationships and maximizing our resources across the whole business, exceeding our own expectations in the process.'

The initial phase of the offerings closed in early March raising USD 0.9 billion and has already started trading. The other phases, which closed on 7 April, are expected to begin trading later this month.

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