Man Investments has been named the ‘European Asset Management Firm of the Decade’ by Financial News in recognition of the pivotal role it has played in the development of the hedge fund industry as well as the asset management industry as a whole over the past 10 years.
London-based Financial News, celebrating its 10th anniversary, also named Man Group Chief Executive Stanley Fink to its ‘Hall of Fame’ in recognition of his significant contribution to the hedge fund industry. The awards were announced this week at a gala dinner, entitled ‘A Decade of Excellence in Europe 1996 – 2006’.
Man Investments, one of the largest providers of hedge fund products in the world, is the asset management division of Man Group plc, a FTSE 100 company. Founded in 1983, Man Investments has enjoyed robust growth over the past decade through strong performance, organic expansion and strategic investments. These include purchases of two fund of funds providers, US-based Glenwood in 2000 and Swiss-based RMF in 2002. Assets under management have grown from about USD 1bn a decade ago to USD 54bn today.
Since its founding and particularly over the past decade the company has been a pioneer in alternative investments. In 1996 it launched Man-IP 220 Limited, one of the first structured funds of hedge funds to offer a capital guarantee. At maturity in 2005 the product, which invested in the AHL managed futures programme and a diversified hedge fund portfolio managed by Glenwood, had returned 295%. Now the firm’s flagship product, Man-IP 220 has continued to attract extensive client interest and in the first quarter of this year investors purchased USD 2.3bn of the product. This was the highest level of sales recorded in the industry for a single private client hedge fund product.
Mr Fink, who is also Chairman of Man Investments, was acknowledged for his role in developing such products and in expanding Man Investments business strategy overall following his arrival at the firm in 1987. Among his achievements Mr Fink led the team responsible for the successful flotation of Man Group in 1994, which now trades on the London Stock Exchange and has a market capitalisation of around £7bn.
The hedge fund industry itself, once a niche sector of the asset management industry, has expanded substantially during the past decade. Assets under management for the entire industry were less than USD 100bn in 1996, according to Hedge Fund Research. Now they exceed
USD 1.3 trillion - Man Investments’ share of that market is about 4%.
“The development of hedge funds has transformed the asset management industry over the past 10 years,” said Fink. “We have consistently endeavoured to be at the forefront of that transformation by focusing on performance, risk control, and service delivery”.
Chief Executive of Man Investments, John Morrison, said the award was especially significant as it related to not only the alternative investment sector but also to the whole funds management industry in Europe.
“The challenge now is to maintain this momentum and to build on the strong foundation laid by Stanley Fink and others over the past 20 years,” Mr Morrison said.
“To achieve this we must continue to provide the effective investment products our clients seek. We must identify new opportunities for growth and build on our core strengths in client service, distribution, portfolio structuring and product innovation.”
About Man Group plc
Man Group plc is a leading global provider of alternative investment products and solutions as well as one of the world's largest futures brokers. The group employs over 4000 people in 16 countries, with key centres in London, Pfäffikon (Switzerland), Chicago and New York. Man Group plc is listed on the London Stock Exchange (EMG.L) and is a constituent of the FTSE 100 index. Further information on Man Group can be found at www.mangroupplc.com.
About Man Investments
Man Investments, the asset management division of Man Group plc, is a global leader in the fast growing alternative investments industry. It provides innovative products and tailor-made solutions to private and institutional investors. Through its core investment managers – AHL, Glenwood, Man Global Strategies and RMF – Man Investments has succeeded in developing leadership in hedge funds and has interests in other asset classes. In its core hedge fund asset class, Man Investments offers funds of hedge funds, structured and style products.
Its track record stretches back more than two decades and defines the standard for excellence in an industry whose central goal is to provide diversification away from traditional equity and bond investments. Man Investments has a powerful global presence with central operations in Pfäffikon (Switzerland) and London and key centres in Chicago, Montevideo, Hong Kong, Sydney, Tokyo and Dubai and has an extensive network of distribution partners. Further information on Man Investments can be found on the internet at www.maninvestments.com.
