MAN GROUP, NOMURA LAUNCH ALT. FIXED INCOME FUND IN UCITS FORMAT

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Press Release: Man and Nomura launch an alternative fixed income fund in UCITS 
format  
London 10 July, 2013 - Man Group plc (“Man”), the global alternative investment 
manager, and Nomura, Asia’s global investment bank, have launched the Nomura 
Man Systematic Fixed Income UCITS Fund (the “Fund”). The Fund provides 
investors with an innovative approach to investing in fixed income markets in 
the current low interest rate environment. It aims to deliver strong annual 
returns and offers investors daily liquidity. 
The underlying strategy, which has been accessible via a variety of investible 
formats since summer 2012, is run by Man Systematic Strategies (MSS), Man’s 
award winning specialist investment manager.[1] MSS merged with AHL, Man’s 
flagship managed futures manager, to form a joint quantitative investment unit 
earlier this year.  
The strategy seeks to capture largely directional opportunities in emerging and 
developed swap, futures and FX markets. It trades a balanced portfolio of 50 
markets, based on around 300 systematic trading signals, which benefit from the 
extensive research and trading experience of AHL and MSS. The strategy is 
managed by Andre Rzym and Stefan Sluke, who both previously worked on AHL’s 
managed futures funds. Andre has over 20 years of experience in fixed income 
markets, having headed fixed income at AHL, after working as a fixed income 
trader at JP Morgan.  
When developing the strategy, great attention was paid in particular to how it 
would behave in times of market stress. Alternative fixed income strategies 
have been characterised by the use of high leverage and occasional large 
losses, typically during crisis periods.[2] To mitigate this risk, the strategy 
trades liquid instruments, uses a low margin-to-equity ratio and does not 
pursue opportunities with a pronounced tail risk.  
Sandy Rattray, CEO of AHL-MSS said: “Traditional fixed income investing is 
clearly challenged in the current environment with interest rates being close 
to zero per cent. In contrast, the backdrop for alternative fixed income 
investing is favourable: the competition for pursuing alpha opportunities has 
diminished as banks have reduced their risk taking in fixed income markets 
considerably since 2008, creating the potential to generate strong returns. 
However, it has been difficult for investors to tap into these opportunities in 
a UCITS-compliant way with daily liquidity. We are therefore pleased to make 
such an offering available to investors.”  
Man’s collaboration with Nomura builds on a long-established relationship 
between the two companies. MSS is responsible for running the underlying 
investment strategy, with Nomura providing access via a range of investment 
products that benefit from robust on-going monitoring oversight.  
Jean-Philippe Royer, CEO of Nomura Alternative Investment Management, said: “A 
systematic fixed income UCITS fund offering daily liquidity and desirable tail 
behaviour is a compelling alternative for investors looking for returns in the 
current environment. This partnership with Man is a great addition to our 
existing range of UCITS funds and we are pleased to be able to bring such an 
innovative strategy to a wider audience of investors.” 
For further information please contact:
Laura Humble, Man Group
laura.humble@man.com      +44 (0) 207 144 3266
Redzi Mangwana, Nomura International Plc
redzi.mangwana@nomura.com +44 (0) 207 102 1524  
Man Systematic Strategies
AHL-MSS is led by Tim Wong, Executive Chairman and Sandy Rattray, CEO. It has 
USD 16.3bn in assets under management (as of 31st March, 2013). MSS, which 
merged with AHL in February 2013, manages three other successful strategies: 
the Man GLG Europe Plus Source ETF, a broker-based long only equities strategy 
which draws on analysis and evaluation of the most compelling broker ideas; 
TailProtect, an actively-managed, long-only volatility fund which aims to 
provide investors with affordable, optimised tail risk protection; and the Man 
Commodities Fund, which provides investors with long-only commodities exposure 
in a UCITS format. 
Nomura
Nomura is a leading financial services group and the preeminent Asian-based 
investment bank with worldwide reach. Nomura provides a broad range of 
innovative solutions tailored to the specific requirements of individual, 
institutional, corporate and government clients through an international 
network in over 30 countries. Based in Tokyo and with regional headquarters in 
Hong Kong, London, and New York, Nomura employs over 27,000 staff worldwide. 
Nomura’s unique understanding of Asia enables the company to make a difference 
for clients through three business divisions: retail, asset management, and 
wholesale (global markets and investment banking). For further information 
about Nomura, please visit www.nomura.com. 
Important Information 
This material does not constitute investment advice, or a recommendation of any 
investment product. Past performance is not a guide to future results. 
[1] Winner of the “Most Innovative Hedge Fund” category in the Hedge Funds 
Review's 12th Annual European Single Manager Awards 2012. The awards are for 
information purposes only and should not be construed as an endorsement of Man, 
its affiliates or its products. 
[2] In 2008, for instance, the Dow Jones Credit Suisse Fixed Income Arbitrage 
Index fell 28.8%. Source: Man database.
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