Man Group, set to become the first firm to list a hedge fund on the NYSE this autumn, will delay the public offering as market conditions have deteriorated dramatically, reports Reuters, citing a source familiar with the company’s plans. The London-based company - the world’s largest publicly traded hedge fund group with more than $60bn in investments - told US financial regulators in May that it wanted to list the Man Dual Absolute Return Fund in New York in September. Now plans have been postponed indefinitely after stock markets tumbled recently amid fears about the subprime mortgage market.
