Man Group announced today that its Man Multi-Strategy Series 4 Ltd fund (“Series 4”) had attracted the equivalent of US$365 million.
Series 4 was a global offering in two currency classes, Euros and US dollars, and was primarily aimed at private clients. It was based on the multi-strategy approach introduced in 2000 with the launch of Man Multi-Strategy Guaranteed Limited, which the firm says has achieved an annualised net return of 11.5% from inception on 15 July 2000 to 30 November 2002.
Series 4 provides access to multiple investment strategies, many of which are chosen because they have relatively low correlation to traditional assets – including long/short, event driven, managed futures and market neutral & arbitrage. The fund carries a capital guarantee from the Royal Bank of Scotland to return at least 120 per cent of subscribers’ initial investment at maturity.
“Investors continue to realise the importance of diversifying their portfolios to minimise risk,” says Stanley Fink, Chief Executive of the Man Group. “This is underpinned by the proven investment management and risk management expertise within the Man Group as well as the portfolio diversification benefits of a multi-strategy approach.”
The next global launch of a structured product by Man will be Man Multi-Strategy Series 5 Ltd, which will be open for investment on 10 February 2003.