MI Trade, the ground-breaking online platform created last year by Man Investments to provide daily trading in hedge funds, has handled more than USD110m in trading orders in its first seven months.
Since it began trading last July, MI Trade has shrugged off the credit crunch to meet a steadily growing demand from clients for daily liquidity and fast, easy access to a wide range of hedge fund products in the Man stable.
MI Trade allows investors at no extra cost, actively and easily to invest in hedge funds through their financial advisers. It provides daily trading as opposed to monthly or quarterly limits which puts hedge fund investing on a similar time scale to trading in stocks and bonds.
Investors have taken advantage of this innovative platform by placing trading orders amounting to over USD110m since its inception. Unaffected by the sub prime crisis, MI Trade set bid and ask prices regularly, allowing for effective trading in hedge fund products listed on the platform.
'This is an outstanding response to MI Trade,' says John Morrison, chief executive of Man Investments. 'The high trading volumes reflect keen client demand for the facilities and advantages this trading platform offers. It gives us a strong competitive advantage which reinforces our goal of providing unrivalled customer service.'
Since MI Trade started, the range of hedge fund products available on the platform has steadily increased. The range will be further expanded according to demand.
Financial advisers who subscribed to the platform in the first six months were entered into a contest which was won by Werner Günthard, of Bank Julius Bär, Switzerland. He donated the USD10,000 prize money to the charity organisation Leonard Cheshire Disability Group in Sri Lanka.
Man Investments is one of the world's largest providers of hedge fund investments, with USD71.7bn under management. It is part of Man Group, a London-based FTSE 100-listed firm with a 225-year history. Man Investments employs about 1,700 people in key centres in London and Pfäffikon (Switzerland) and in offices in Chicago, Hong Kong, Dubai, Miami, Montevideo, Nassau, New York, Singapore, Sydney, Tokyo and Toronto.