Positive start for Man; overhauls divi policy
Funds under management (FUM) at hedge fund manager Man Group have edged up during 2012, despite customers reducing the amount of money they have placed with the company.
Funds under management (FUM) at hedge fund manager Man Group have edged up during 2012, despite customers reducing the amount of money they have placed with the company.
FUM at the end of February stood at an estimated $59.5bn, up from $58.4bn at the end of 2011, reflecting positive investment performance partially offset by net outflows and what the group calls guaranteed product de-gears.
The company announced a change to its divided policy in which 100% of adjusted management fee earnings per share each financial year will be paid out in dividends.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Net performance fee earnings will be added to available capital surpluses and distributed to shareholders over time by way of higher dividend payments and/or share repurchases.
What this means for the current financial year (to end-March) is a full year dividend of 22 cents.
More to follow ...
jh
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
High earners underestimate how much they need to retire comfortably
High net worth individuals grossly misjudge how much money they need for a comfortable retirement, new data shows, with many not saving enough.
-
Retired banker who gave wife £80m to avoid inheritance tax won’t face equal split in divorce
Family lawyers say the Supreme Court ruling will have significant impact on high net worth divorce cases