Man Group Rises on $115 Million Share Buyback and Fund Flows
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Man Group Plc, the world’s largest publicly traded hedge-fund firm, rose the most in more than three years after announcing a $115 million stock buyback and saying clients added money to its funds for a second straight quarter.
The shares climbed as much as 15 percent in London trading. The company’s funds had $700 million of client inflows in the fourth quarter, as $5.5 billion of sales outpaced $4.8 billion of redemptions, London-based Man Group said as it released full-year results today.