Man Group plc, the international hedge fund manager and futures broker, announced that its two most recent launches Man Multi-Strategy Series 3 Ltd and OM-IP Hedge Plus Limited have together raised the equivalent of over US$590 million of client money.
Man Multi-Strategy Series 3 Ltd raised over US$450m in its two currency classes – Euros and US dollars, a record for this type of offering. Series 3 was a global offering, primarily aimed at private clients, based on the successful multi-strategy approach introduced in 2000 with the launch of Man Multi-Strategy Guaranteed Limited. The Series 3 approach provides access to multiple investment strategies, many of which have relatively low correlation to traditional assets representing some of the key hedge fund style groups including securities selection (long/short), event driven, managed futures and market neutral & arbitrage.
OM-IP Hedge Plus Limited was launched in Australian dollars and raised the equivalent of over US$140m, also a record amount for the Australian markets. Hedge Plus was a regional offering focused on private clients in Australia and New Zealand. It provides access to a diversified portfolio that includes both the AHL Diversified and Man-Glenwood Multi-Strategy Programmes.
Stanley Fink, Chief Executive of the Man Group plc, said:
“The continued high level of demand for the Man Group’s latest investment offerings demonstrates the attractiveness of alternative investment products in general and of the Group’s structured product range in particular. These successful product launches are 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 will be Man AP Strategic Ltd, which will be open for investment on the 11 February.