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Man Group Shares Rise on Buyback, Decline in Redemptions

Man Group Plc, the biggest publicly traded hedge fund, said it would buy back $150 million of stock and that redemptions declined in October. The shares rose.

Man Group plans to use a portion of its $1 billion of surplus regulatory capital to repurchase shares, the London-based company said in a statement today. Chief Executive Officer Peter Clarke said requests by clients to pull money declined last month from September after investors became less concerned that Europe’s sovereign debt woes would trigger a global financial crisis.