Market bites Man, others in stock drop
Last week’s mammoth market plunge cost Man Group PLC, the world's largest listed hedge fund manager, about $1 billion in assets, a loss of 8.23%, The Wall Street Journal reported.
Last week’s mammoth market plunge cost Man Group PLC, the world’s largest listed hedge fund manager, about $1 billion in assets, a loss of 8.23%, The Wall Street Journal reported.
And they weren’t the only ones to feel the pain.
“A lot of the managed-futures funds got walloped in February,” Brett H. Barth, of BBR Partners LLC in New York, which invests in hedge funds on behalf of wealthy individuals, told the Journal.
Man Group, with more than $60 billion under management, told the Journal that focus should be on long term performance, not week-to-week figures.
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