Investors poured $700 million more into
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.
Analysts suggest Man's performance may mark the beginning of a trend for the company. "I expect more of a pick-up in fund gathering this year," said Huw van Steenis, an analyst with
Man scooped some of future broker
Last year, Man's computer-driven futures market fund, the AHL Diversified fund, jumped 18%, representing a return six times higher than the Standard & Poor's 500. The AHL funds should continue to perform well, increasing inflows for the world's largest hedge fund company, according to van Steenis.
However, the outlook for other hedge funds is less optimistic. The
In London, Bailey Coates Cromwell closed in June, after plunging 20%. Since opening in July 2004, Greenwich, Conn.-based