Man Group

Profits down 17% on 2014

Investment bank Liberum downgrades groups

Lord Livingston may join before Christmas

Offset by positive performance at AHL

Pickard and Cole to run new long-only strategy

All 12 funds to be renamed Man GLG

Man Group saw $2.6bn of net outflows during the first half of the year, largely driven by redemptions from the group's long-only portfolios including GLG's Japan CoreAlpha strategy, but performance fees helped profits jump 89%.

Lazard UK Omega manager Alan Custis is backing the acquisitive Man Group to pursue further M&A activity as it continues to diversify away from its quant strategies.

Crux Asset Management, the recently-launched boutique set up by European equity manager Richard Pease, has hired another former New Star and Henderson colleague Karen Zachary as chief operating officer.

Crispin Odey rose up the rankings in 2014, but which other hedge fund managers stand among the richest in the UK?