April 17th, 2001 Dubai,
D & F Man Investment Products, one of the world’s leading
alternative investment management houses, will henceforth be known as
Man Investment Products (MIP).
name change follows that of its parent to Man Group plc in September
last year and is mirrored by the Group’s brokerage division
change of name from E D & F Man International to Man Financial.
The Group, which is a specialist fund manager and international
futures broker, also announced that following recent strong performance
by many of its fund products, performance fees earned for the year ended
31 March 2001 will be substantially ahead of market expectations.
Man Group will be announcing its Preliminary Results for the year
ended 31 March 2001 on 31 May 2001.
Fink, CEO of Man Group, commented: “This announcement highlights the
ability of Man’s products to perform in a variety of market
conditions. The Group has a wide range of alternative investment
products, many of which have been able to deliver strong out performance
in volatile markets. The funds have particularly benefited from the
major trends in currencies as well as the strength of bonds and weakness
of equity markets generally”.
in March of this year the Group’s largest manager AHL generated
returns to investors of 10% in the month, which was the sixth
consecutive month of positive performance.
Almost all the Group’s funds are currently at incentive fee
highs and Group funds under management as at 31 March 2001, were
estimated to be in excess of $6.5 billion.
Management fees and Brokerage income for the year ended 31 March
2001 are both in line with management’s expectations.
Massad, regional manager for Man Investment Products in the Middle East,
said: “MIP is evolving, as is evidenced by our three most recent
innovative fund launches and our investors approve; Man-Glenwood Select
closed for subscriptions on 27 March 2001 having raised over US$ 220m,
the largest launch of any MIP product. Investors will of course continue
to receive the same high-quality service and continue to benefit from a
superior blend of investment products, under a new, straightforward
a global business with offices in Dubai, Bahrain, Hong Kong, London,
Chicago, Montevideo, Tokyo and Zurich and has launched more than 170
alternative investment vehicles worldwide. Recent fund launches include
Man-Glenwood Nexus (October 2000) and Man-Glenwood Select (January
2001), both guaranteed hedge funds. In March this year, MIP, in
collaboration with Dresdner Kleinwort Wasserstein, launched Man
Alternative Investments Limited, MIP’s first UK listed fund-of-hedge
funds product. MIP’s client focus has also broadened from a retail
investor-driven base to include proactive marketing to institutional
Man Group plc is
a financial services group whose origins date back to 1783.
It is quoted on the London Stock Exchange and employs over 1,500
people in 11 countries worldwide.
Man Investment Products
Investment Products is part of Man Group plc and currently manages US$
6.5 billion for institutions and private investors worldwide. It is a
global business with offices in Dubai, Hong Kong, London, Chicago,
Montevideo, Tokyo and Zurich and has launched more than 170 alternative
investment vehicles worldwide.
began as a joint venture between Man Investment Products and Glenwood1,
a Chicago-based investment adviser founded in 1987 and now wholly-owned
by the Man Group. Man-Glenwood’s multi-strategy, multi-manager
investment approach has performed in line with its objective of
generating equity-like returns with bond-like volatility. Since
inception in 1987, the Man-Glenwood Portfolio2 has achieved
an annualized return of 12.3% for a volatility of 6.7%, with positive
returns produced in approximately 85% of all calendar quarters2.
material is issued by Man Investment Products Limited, which is
regulated in the UK by the SFA. The rules and regulations made under the
Financial Services Act for the protection of investors do not apply to
investment business conducted outside the UK and compensation under the
Investor Compensation Scheme may not be available.
may refer to Glenwood Holdings, LLC, Glenwood Capital Management, LLC,
Glenwood International Limited and / or their associated companies and
Portfolio: represented by Glenwood Partners L.P. (net of fees and
commissions) from 1 January 1987 to 31 December 1995 and Man-Glenwood
Multi-Strategy Fund Limited from 1 January 1996 to 30 November 2000. It should be noted that the fees,
leverage and the exact mix of managers have varied over time and as a
result performance of any future product managed by Man-Glenwood will
by Gulf Hill and Knowlton on behalf of E D & F Man. For further
information, please contact Randa Mazzawi on Tel: (+9714) 3344930 or Fax
(+9714) 3344923/3344917/3360692 or e-mail: email@example.com