Media. News and press releases from across Man Group.

Man launches new investment management business

26 March 2009

Building on the strengths of RMF’s infrastructure and disciplined investment process, Glenwood’s proven bottom-up manager selection philosophy and Man’s managed account expertise, the new integrated business will provide transparent access to hedge fund investing through fund of fund portfolios and customised solutions, to deliver a unique and flexible investment offering for both institutional and private investors.

Peter Clarke, Chief Executive of Man, said:

“As markets have changed, so have investor requirements for hedge fund investing.

Performance remains an absolute requirement, but transparency, governance and risk management are now at the top of investors’ agendas.  They are looking for providers with the scale, expertise and systems to deliver the enhanced transparency, institutional quality governance and stronger controls over invested capital they require.  With over $1.5 billion in excess capital, one of the industry’s deepest pools of investment talent, and extensive infrastructure and systems, Man is uniquely positioned to provide a market-leading solution.”

The new integrated business builds on Man’s existing strengths and delivers:

  • Heightened transparency, liquidity and control of assets via an extension of Man’s proven managed accounts platform and expertise.  As the leading independent provider of managed accounts, with over 12 years’ experience, Man’s scale makes it an attractive partner for underlying hedge funds.  Man currently invests in more than 70 managed accounts and plans to double this number over the coming year
  • The security and stability of Man’s business model, capital strength and long history of operating in regulated markets worldwide  
  • A deep pool of seasoned investment expertise, with over 150 investment professionals and an average of 16 years industry experience across the senior management team
  • Global coverage combined with local market intelligence, with key centres in the US, UK, Switzerland and Asia.  Man’s extensive research capabilities enable it to screen the investment universe for alpha and identify the highest quality managers and strategies around the globe
  • Access to the world’s best hedge fund managers, secured on preferential terms, offering a full range of hedge fund styles and opportunities via strong and stable hedge fund portfolios, customised solutions or access to single manager hedge funds
  • A structure which separates investment management and oversight, and manager seeding and investment allocation, and enshrines an independent risk management function at the same level as investment management  
  • The benefits of scale at every step of the process: manager sourcing capability; depth of due diligence; negotiating the best terms for investors; access to leverage; portfolio construction; and investment in infrastructure and research of new investment opportunities

John Rowsell, Chief Investment Officer of Glenwood, will take the role of Managing Director of the integrated business and will be responsible for all business, operational and risk functions.  Herbert Item, Chief Investment Officer of RMF, will become Chief Investment Officer and will be responsible for all investment functions.  Both John and Herbert will continue to report to Peter Clarke.

Peter Clarke, Chief Executive of Man, said:

"These are very challenging markets, but the outlook for investment returns in our industry is encouraging.  What is essential is that investors have confidence in their selection of investment manager and choice in terms of how they access hedge fund returns.  Our new business provides these vital components in a strong, comprehensive and independent structure."

Man has put in place a dedicated integration team to ensure that there is no impact on existing investor portfolios.  The team will build on existing systems integration which has been underway since 2008 and core integration tasks will be completed by the end of May 2009.  RMF, Glenwood and MGS portfolios will continue to be managed according to existing mandates by dedicated portfolio managers.  AHL will be unaffected by the creation of the new integrated business.

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