Man Group

Man Group, the world's second-largest hedge fund, has hired former Pimco international bond chief Sudesh Mariappa as a senior portfolio manager, according to reports.

Man Group has joined forces with Japanese investment banking giant Nomura to launch a fixed income hedge fund aiming to deliver double-digit returns annually.

Apple shares led the fallers on the Nasdaq shortly after open following a disappointing second quarter trading update from the tech giant.

Man Group was the biggest winner in early trading in London, with its shares up 10.2% to 76.20p.

Hedge fund manager Man Group is to drop out of the FTSE 100 following the index's latest quarterly review after a fresh period of poor share price performance took its toll on the company.

Man Group looks set to drop out of the FTSE 100 at the next review in June, to be replaced by engineering group Babcock.

Reports that China is eyeing a fresh round of stimulus to boost growth in the country helped lift European stocks out of the doldrums Monday.

Man Group is to acquire hedge fund research and investment group FRM Holdings, rebranding its multi-manager business with the FRM tag.

Today's biggest loser on the FTSE 100 - Man Group - has continued its slide this afternoon, falling over 6% after warning of losses of $1bn from its funds this quarter.

Man Group has reported net outflows of $1bn in the first quarter, down from $2.5bn in the fourth quarter of 2011, as its flagship AHL product continues to impact on funds under management.