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Man Group raises USD1.5billion for Japan hedgie, stock price climbs

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Man Group’s share price on May 3 rose 3.3 per cent – the FTSE 100’s biggest mover – after announcing the launch of a new USD1

Man Group’s share price on May 3 rose 3.3 per cent – the FTSE 100’s biggest mover – after announcing the launch of a new USD1.5billion onshore Japan fund. The Nomura Global Trend fund is the latest product to be managed by its Hong Kong-based quant investment firm, AHL, which uses directional computer algorithms to trade managed futures. According to Reuters, the fund will invest in various assets using three currency baskets, one of which being the Chinese RMB. The high launch figure is good news for Man Group and, judging by investor interest, suggests the firm’s future direction is on firm ground following last year’s acquisition of GLG Partners. Although uncertainty remains in the Middle East and North Africa, not to mention inflationary pressures in Asian emerging markets, the demand for alternative strategies is strong: as evidenced by hedge funds’ total AUM reaching a high-water mark of USD2.02trillion last month. Commenting on the launch of the Japan-focused fund, Man Chief Executive Peter Clarke (pictured) said: “The outstanding success of this open-ended fund launch is due to its appealing and innovative structure, and the commitment and expertise of the teams at both Man and Nomura.” A source close to Man allegedly told Reuters that sales of the Nomura Global Trend fund had exceeded expectations “by around three times”. 

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