Speaking at the presentation of Man’s annual results, Peter Clarke, chief executive officer, reinforced the business’ plans to build Man into "the industry’s most comprehensive provider of liquid alternative investment styles."
The new fund will be launched next month and domiciled in Japan. At the outset it will be aimed at Japanese investors and a spokesperson said there were no plans to bring the product to the UK although the possibility hadn’t been ruled out.
The announcement comes just weeks after Man launched the open-ended Nomura Global Trend Fund through its AHL team, an onshore Japanese fund that now has $2bn in assets.
Clarke said that funds under management at the group had risen from $39.4bn at the end of March 2010 to $69.1bn a year later. The value has since increased by a further $2bn.
In a proactive move to develop a Ucits-compliant fund range, the firm now has £10bn in Ucits assets and a further $1bn under management from Man Systematic Strategies (MSS). MSS is a business unit established at the beginning of this year, headed by Sandy Rattray, formerly in charge of systematic strategies at GLG, that combines AHL, Man Multi-Manager and GLG capabilities.
In the future, Clarke said the group planned to move investment management closer to its markets, including Hong Kong, and launch a renminbi share class of AHL.