Man Group, the world’s largest publicly listed hedge fund manager, has decided to start selling its Man AHL Tren
Man Group, the world’s largest publicly listed hedge fund manager, has decided to start selling its Man AHL Trend Fund to Singaporean retail investors, a first for the firm. Employing the UCITS-III structure, the fund, which uses computer algorithms to pick positions in futures markets, will give investors exposure to a managed futures asset class, providing portfolio diversity as well as regular liquidity and transparency, both of which are ubiquitous features of the UCITS format. Minimum buy-in to the Lux-domiciled fund, which first launched in July 2009 and was up +16.50 per cent as of end-October 2010 according to Morningstar, will be USD15,503. According to Timothy Peach, Man Group’s Head of Sales for SE Asia, the firm spent three years discussing the fund with Singapore’s regulators, and may now look to other jurisdictions including Malaysia. “We don’t expect a huge tsunami of money coming into the fund initially; it is quite different from your typical mutual fund,” said Peach. AHL accounts for roughly USD24 billion of Man Groups assets, and is one of the firm’s key profit engines. Having now acquired GLG Partners, the firm, whose net 1H10 profits are down 56 per cent to USD109 million, has approximately USD67 billion in AUM.