Man Group, the world’s largest hedge-fund manager, caught the market by surprise on Thursday when it revealed an unusually high rate of private client redemptions from its funds in the last quarter.  Shares in Man fell 21½p to 507p after it said private investors withdrew $1.8bn in the three months to the end of the year, the highest level in several years. Analysts said outflows from Man boded ill for other asset managers selling funds to private investors. Man’s net funds belonging to private investors rose 2.7% in the last quarter to $42bn and the group’s total funds under management rose 4.6% to $71.7bn from $68.6bn in September. Separately, Charlemagne Capital, a specialist emerging market fund manager, said its assets under management rose 40% to $6.5bn in the year to December, with revenues increasing 48% to $135.4m.

This entry was posted by Gwen Robinson on Friday, January 11th, 2008 at 5:31 and is filed under Capital markets, Hedge funds. Tagged with charlemagne, Man Group. Edit this entry.