MAN Grows Managed Accounts Business By Half in Six Months |
Date: Thursday, November 5, 2009
Author: Man Group PLC
Man
Group plc today reported that its newly created multi-manager business grew
assets held in managed accounts from $4 billion to $6 billion in the six months
to 30 September 2009. Man’s
multi-manager business, which has been
operational since June, ended the period with $17.8 billion in funds under
management.
A
managed account, or ‘MAC’, is a fund which is owned by the investor and
controlled by independent third party providers. The MAC’s trading strategy
typically mirrors the strategy of an existing investment fund, but the
investment mandate can be tailored to meet specific portfolio management
requirements. MACs can deliver control of assets, transparency and independence
benefits in comparison to a conventional commingled fund structure.
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, comments: “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.”
Man
maintains top Fitch Rating
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. In its latest
report, Fitch commented that Man’s rating reflects the swift
consolidation of its multi-manager operations and the refinement of the
investment management process.
More…
Peter
Clarke adds: “In late March we first announced our plans to create a
world-leading multi-manager business that addressed head-on investor requirements for increased transparency, corporate
governance and risk management. Receiving one of the highest possible ratings
from Fitch is a powerful external validation of our multi-manager business and
testament to the huge amount of work by people across the business to make it
such a success.”
ENDS
Enquiries
Simon
Anderson
Global Head of
Communications
+44 20 7144
2121
simon.anderson@mangroupplc.com
Robert Clow
Senior
Communications Officer
+44 20 7144
3886
robert.clow@mangroupplc.com
Olivia Tomlin
Senior
Communications Officer
+44 20 7144
3266
olivia.tomlin@mangroupplc.com
About
Man Group
Man is a
world-leading alternative investment management business. With a broad range of
funds for institutions and private investors globally, it is known for
performance, innovative product design and investor service. Man’s funds under
management at 30 September 2009 were USD 44.0 billion.
The original
business was founded in 1783. Today, Man Group plc is listed on the London Stock
Exchange and is a member of the FTSE 100 Index with a market capitalisation of
around GBP 5 billion.
Man Group is a
member of the Dow Jones Sustainability World Index and the FTSE4Good Index. Man
also supports many awards, charities and initiatives around the world, including
sponsorship of the Man Booker literary prizes. Further information can be found
at www.mangroupplc.com.