03/02/2010 Author: Zaki Abushal

Disappointing results affect confidence in Man Group

Analysts continue to question Man Group’s strengths in the long term. The share price in the world’s largest listed hedge fund fell 6.5% after poor early-year results in its flagship Man AHL fund were announced last week. Earlier in the year, Man announced poorer-than-expected results for the end of 2009, making it the first down year for the flagship fund.

Analysts appeared caught out by the asset outflows from the whole business for the last three months of 2009 and suffered from the general uncertainty surrounding the UK banking sector, which filtered through to Man Group.

In contrast, Gottex, the Swiss-listed fund of hedge funds (FoHF) provider, posted strong 2009 results, buoyed by end-of-year inflows. Gottex endured a torrid time in the asset-backed arena, with funds still unwinding, but its none-ABL funds in the market neutral and portable alpha space performed exceptionally in 2009.

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