Dealbook reports that Peter Clarke, chief executive of the
Man Group, tried to dismiss speculation that the firm could be a takeover
target. The Man Group, a London institution known for its computer-driven
trading and famed literary prize, has taken a pounding in the eyes of investors
and clients, raising questions about whether the $59 billion firm could be the
object of a takeover.
The firm, the world’s largest publicly traded hedge fund,
has suffered a crumbling stock price and poor market performance. On Tuesday,
the Man Group reported more bad news — more than $1 billion in client money
left its funds during the first quarter of the year.
As the hedge fund industry continues to grow and expand, the
Man Group has struggled to keep pace. Even when the firm has good news to
share, like a new partnership with Oxford University announced last week, it is
overshadowed by irrepressibly negative market sentiment…..
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