The biggest publicly-traded hedge fund manager in the world announced that the assets under its management shrunk by USD 52 billion in the first half of this year. The company said this was due to clients pulling their money from the fund. The decline represented a total 8.8% drop of its assets but since a 2013 high in May, the hedge fund's shares have fallen to 38%. Its biggest hedge fund, AHL Diversified, also experienced second quarter losses brought about by the falling bonds and currencies. The decline occured after Federal Reserve Chairman Ben Bernanke's statement hinting that it would start cutting back on its asset buys.
The decline has pressured Emmanuel Roman, Chief Executive Officer of Man Group, to stave the outflows and increase returns but it's going to be a challenge. "Trading conditions remain tough and we do not see any improvement in the near-term outlook. Investor appetite remained muted as renewed market volatility tempered investors' willingness to put their money to work," he explained.
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