Active managers like to boast that they can play whipsawing markets to their advantage. But few asset managers have come out unscathed from the volatility of the past three years. Man Group is the exception.
Shares in one of the world’s biggest hedge fund managers are riding almost 50 per cent above the February 2020 price, when the UK stock markets entered bear territory on the eve of global lockdowns. Assets under management are almost $20 billion, or 16 per cent, higher over the past three years.
The FTSE 250 group’s tilt towards all-weather absolute return strategies, designed to perform during extreme oscillations in markets, has helped it to outperform. The recent dip in the shares underlines the risk in taking bets on macro moves,
