Man grows managed accounts business by half in six months
Man Group’s newly created multi-manager business grew assets held in managed accounts from USD4bn to USD6bn in the six months to 30 September 2009.
Man’s multi-manager business, which has been operational since June, ended the period with USD17.8bn in funds under management.
Over the past ten years, Man has built a significant managed accounts platform as an investor, in contrast to the flow driven business model of other providers which tend to focus less on the underlying investment management application.
This means that in addition to the security, transparency and liquidity that managed accounts provide, Man can also offer ongoing portfolio monitoring and risk management oversight, bespoke and transparent investor reporting, as well as portfolio investment advice.
Peter Clarke, chief executive of Man, says: “An increasingly important part of our engagement with institutional investors is centred on our managed accounts capability, in response to their increasing demands for transparency, liquidity and control. A key differentiator of Man from other MAC providers is that we construct portfolios based on our confidence in the underlying manager, the manager’s ability to support our MAC operating model, and our understanding of how their strategy contributes to a particular portfolio mix.”
Following the successful integration to create Man’s new multi-manager business in June, Fitch Ratings recently announced that Man has maintained its ‘M2+’ rating, one of the highest possible ratings awarded to a multi-manager.
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