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Man goes for hedge strategies

Man Group is making its first foray into the UK market with the introduction of investment trust called the Man alternative investment company.

The trust is a closed ended investment company based in Guernsey and registered on the London Stock Exchange. Its aim is to provide long term capital growth.

Man alternative investments will invest in a portfolio of hedge funds that will pursue long and short strategies. This involves buying stocks in the expectation that they will rise in value and then selling them when it seems that they have peaked.

The portfolio will have a balanced level of risk and will be managed by Man-Glenwood, Man Group’s Chicago-based subsidiary. Man-Glenwood has been involved in the hedge fund industry since 1987, when it founded the Man-Glenwood portfolio fund and the Man-Glenwood multi-strategy fund.

According to Standard & Poor’s the Man-Glenwood multi-strategy is ranked 13 out of 28 funds, based on £1,000 invested on a bid to bid basis with gross income reinvested over five years to February 26, 2001.

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