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Man Group Wants to Expand Asia Business, Handelsblatt Reports

Date: Tuesday, February 22, 2011
Author: Holger Elfes, Bloomberg

Man Group Plc will expand its business in Asia and may hire hedge-fund manager teams in the region, Handelsblatt reported, citing an interview with Chief Executive Officer Peter Clarke.

While Man Group aims to be closer to its Asian customers and plans to invest more money in the region, no big acquisitions are planned there, the newspaper said.

The number of hedge funds will diminish in the next 10 years and they will have more money under management, Clarke told Handelsblatt.

To contact the reporters on this story: Holger Elfes in Dusseldorf at helfes@bloomberg.net;