Investors poured $700 million more into Man Group hedge funds in the three-month period that ended Dec. 31, representing more than a three-fold increase over previous quarters, according to Bloomberg.

The London-based group attributes much of the growth to its three-month-old Man IP 220. Investors responded to the new product with $900 million worth of new investments, accounting for a large part of Man's $2.1 billion gross new funds. Investors also redeemed $1.4 billion in the most recent quarter.

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