Man Group Withdrawals Down In October

The world’s largest listed hedge fund manager Man Group experienced lesser cash redemptions in October compared to September, Reuters reports. The trend has led to optimism that the group may stem withdrawals despite euro zone's worsening debt crisis. Its assets under management shrank to $63.5 billion in October, a drop of $1 billion due to poor performance of its flagship AHL fund.

Man has also declared a share repurchase of up to $150 million by the end of 2011 to pacify frustrated investors and deal with its falling market value. The $24.4 billion AHL fund is now on average some 11 percent off the level above which its performance fees turn lucrative.

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