hedge funds

Man Group has completed its purchase of GLG Partners, creating a diversified fund group running $63bn of assets.

The founder of Long-Term Capital Management, who oversaw the worst failure in hedge fund history, is returning to the market.

Man Group has launched a Ucits compliant fund of European hedge funds, run by Robin Lowe, its head of multi-manager long/short equities.

French MEPs may veto the Alternative Fund Managers Directive (AIFMD) including a key provision for passporting of investment products, which would allow fund managers to sell products across Europe.

Eight in every 10 hedge funds could fold over the coming decade, according to star hedge fund manager Hugh Hendry.

ANALYSIS

The top 10 global hedge fund managers have earned more than $153bn for investors since they were founded, a third of the 7,000-strong industry's returns.

Hedge fund manager John Paulson, who made billions out of the collapse of the sub-prime mortgage market, has been hit by the uncertainty surrounding in the US economy.

David Einhorn, the US hedge fund manager who publicly questioned the health of Lehman Brothers before its collapse, has offloaded the majority of his stake in F&C.

Man Group has won overwhelming shareholder support for its $1.6bn (£1bn) bid for GLG Partners, and has made a senior appointment from GLG for the enlarged group.