Man Group Raises $1.5 Billion for Fund From Japanese Investors
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Man Group Plc said it raised $1.5 billion from Japanese investors for a product tied to the company’s largest hedge fund, beating estimates by analysts who raised concerns that the March earthquake would hurt demand.
The Nomura Global Trend fund began trading the last week of April, London-based Man Group, the world’s biggest publicly trade hedge fund, said in a statement today. It is linked to Man AHL Diversified Plc, a computer-driven program that accounts for about one-third of the company’s $69 billion under management.