Man Investments, one of the world's biggest providers of hedge fund products, has unveiled an internet-based trading facility that cuts significantly the time taken to buy and sell hedge fund investments.
The online platform, called MI Trade, allows daily trading as opposed to monthly or quarterly redemptions and, the firm says, puts hedge fund investing with selected Man Investments products on a similar time scale to trading in stocks and bonds.
Man says the speed of transactions offered by MI Trade introduces greater flexibility to hedge fund trading, allowing investors to adjust investment strategies at short notice. Previously flexibility has been very limited in the industry, with restricted availability and tight conditions.
Man says financial advisers acting for clients can use MI Trade's internet facility to buy and sell a range of the group's products without delay, allowing them to manage client accounts actively and offering access to hedge fund prices.
Man Investments chief executive John Morrison describes the system as 'a major leap forward for hedge funds that gives Man Investments a strong competitive advantage. Investors can now, at no extra cost, actively and easily trade hedge funds as part of an overall portfolio of stocks, property and bonds.'
The range of products available for trading through MI Trade comprises a wide spectrum of Man products covering investment areas such as commodities, emerging markets, managed futures, health care, real estate and environment-based funds.
The programme will use major financial transaction clearing systems in an extensive range of countries and is scheduled for further expansion of its reach and capabilities in the future.
Man Group is a leading global provider of alternative investment products and solutions, employing 1,600 people at its main investment centres in London and Pfäffikon in Switzerland as well as Chicago, Dubai, Hong Kong, Montevideo, Nassau, New York, Singapore, Sydney, Tokyo and Toronto.