Latest news with #ManGroup
Times
2 days ago
- Business
- Times
Man Group orders 150 staff back to London office
The world's biggest listed hedge fund group has ordered about 150 of its London-based staff back to the office five days a week as it wrestles with the faltering performance of its main computer-driven investment business. Man Group said that its employees in the City who work at its AHL division had been asked to attend its premises full-time for a three-month period 'to support an 'all hands on deck' cross-team research project'. AHL is behind Man's core quantitative investment programs, which have been wrongfooted by violent moves in financial markets in recent months driven by abrupt changes in trade policy pursued by President Trump since his return to the White House in January. AHL's main investment strategy is down about 10 per cent so far this year and also only eked out a 3.19 per cent gain in 2024. • The 'super-prime' offices designed to lure WFH staff back in Man Group, which is a member of the FTSE 250, manages about $172.6 billion of assets and is one of the biggest names in the hedge fund industry. The London-based company has about 1,700 staff in offices around the world, including in New York, Shanghai and Sydney, and operates a flexible working policy under which employees typically come into the office three days a week. The edict for some workers to temporarily come in full-time, which was first reported by the Financial Times, applies to mainly quantitative analysts and spans May to July. A spokeswoman said: 'While these cross-team initiatives are infrequent, experience has shown that a period of highly focused, in-person collaboration allows significant research progress to be made in a relatively short amount of time. The firm's broader agile working policy remains unchanged.' It adds to a broader push in the financial services industry and beyond to cut down on hybrid working, which has become much more widespread since the Covid pandemic lockdowns forced most office staff into remote working. Staff at JPMorgan Chase, which is America's biggest bank and has a significant business in Britain, have been required to come in five days a week since March, while Amazon has expected the same since the start of the year.
Yahoo
2 days ago
- Business
- Yahoo
Hedge fund orders London-based analysts back to office five days a week
Man Group has ordered its London-based analysts to return temporarily to the office five days a week, as the world's biggest listed hedge fund seeks to recover from a period of poor performance amid Donald Trump's tariff war. Quantitative analysts working at Man AHL, the company's computer-run fund that aims to identify and follow momentum in markets, have been told they are expected to be in its offices daily until the end of July as part of an 'all hands on deck' project. The edict applies to about 150 staff in London, just under 10% of the overall group's 1,700 global employees, the Financial Times reported. 'Man AHL has asked its staff in London to work in the office five days a week for a three-month period to support an 'all hands on deck' cross-team research project,' the company said. 'While these cross-team initiatives are infrequent, experience has shown that a period of highly focused, in-person collaboration allows significant research progress to be made in a relatively short amount of time.' The company, which has been a champion of flexible working arrangements including working from home, said that its 'broader agile working policy remains unchanged'. Employees tend to be in the office three days a week, on average but this varies by role. Trump's destabilising tariff war has caused significant volatility in global markets, which has made it difficult for computer-based funds such as AHL to predict market trends. The company's most recent financial statement showed that the start of Trump's trade war in April wiped out all the group's assets under management gains of the first quarter. Its holdings were up $4bn (£3bn) in the first three months of the year but plummeted by $5.6bn in the first two weeks of April. The AHL Alpha programme, Man's institutional trend-following strategy, has lost 10% so far this year. Man Group's share price is down more than 30% over the past year. Man Group is the latest major financial services company to revisit its flexible working policies. Last month, BlackRock, the world's biggest asset management company, told its approximately 1,000 managing directors globally that they were expected to work from the office full time. The New York-based company told staff in 2023 that they had to go into the office at least four days a week. Earlier this year, JP Morgan Chase summoned all its workers back into the office. Jamie Dimon, the head of the bank, has long been a proponent of restoring pre-pandemic working patterns. Barclays also hardened its stance on remote working earlier this year, saying all staff should work from the office at least three days a week, up from two days.
The Guardian
2 days ago
- Business
- The Guardian
Hedge fund orders London-based analysts back to office five days a week
Man Group has ordered its London-based analysts to return temporarily to the office five days a week, as the world's biggest listed hedge fund seeks to recover from a period of poor performance sparked by Donald Trump's tariff war. Quantitative analysts working at Man AHL, the company's computer-run fund that aims to identify and follow momentum in markets, have been told they are expected to be in its offices daily until the end of July as part of an 'all hands on deck' project. The edict applies to about 150 staff in London, just under 10% of the overall group's 1,700 global employees, the Financial Times reported. 'Man AHL has asked its staff in London to work in the office five days a week for a three-month period to support an 'all hands on deck' cross-team research project,' the company said. 'While these cross-team initiatives are infrequent, experience has shown that a period of highly focused, in-person collaboration allows significant research progress to be made in a relatively short amount of time.' The company, which has been a champion of flexible working arrangements including working from home, said that its 'broader agile working policy remains unchanged'. Employees tend to be in the office three days a week, on average. However, this varies by role. Trump's destabilising tariff war has resulted in significant volatility in global markets, which has made it difficult for computer-based funds such as AHL to predict market trends. The company's most recent financial statement showed that the start of Trump's trade war in April wiped out all of the assets under management gains made by Man Group in the first quarter. Its holdings were up $4bn in the first three months of the year but plummeted by $5.6bn in the first two weeks of April. The AHL Alpha programme, Man's institutional trend-following strategy, has lost 10% so far this year. Man Group's share price is down more than 30% over the past year. Man Group is the latest major financial services company to revisit its flexible working policies. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Last month, BlackRock, the world's biggest asset management company, told its approximately 1,000 managing directors globally that they were expected to work from the office full time. The New York-based company last told staff in 2023 that they had to go into the office at least four days a week. Earlier this year, JP Morgan Chase summoned all its workers back into the office. Jamie Dimon, the head of the bank, has long been a proponent of restoring pre-pandemic working patterns. Barclays also hardened its stance on remote working earlier this year, saying that all staff should work from the office at least three days a week, up from a previous requirement of two days.
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Business Standard
3 days ago
- Business
- Business Standard
Man Industries share price zooms 6% in trade today, June 5; here's why
Man Industries share price: Pipe maker Man Industries shares jumped up to 6.05 per cent to hit an intraday high of 418.45 However, at 1:40 PM, Man Industries shares were off highs, and were trading 1.55 per cent higher at 400.65 per share. In comparison, BSE Sensex was trading 0.44 per cent higher at 81,355.06 level. Why are Man Industries shares buzzing in trade today? Man Industries share prices were buzzing in trade after the company announced that it has secured an order worth approximately ₹1,150 crore from an international customer. In an exchange filing, Man Industries said, 'We are pleased to inform you that the company has received a new export order for approximately ₹1,150 crore. This order is expected to be delivered during the next 6 to 12 months.' 'This order significantly demonstrates the robust strength and market credibility in global markets and highlights Man Industries' growing reputation as a trusted supplier in the international pipeline industry,' Man Industries highlighted. According to the order details, the company will be responsible for supplying different types of pipes to a respected international customer. Notably, the work is expected to be completed within the next 6 to 12 months. Man Industries' total unexecuted order book now stands at approximately ₹3,500 crore, including today's order. 'The start of the year is proving exceptionally strong for Man Industries, highlighted by the multiple orders totalling approximately ₹3,500 crore. These are testimonial to our steadfast focus on delivering product excellence and timely deliveries. We expect this momentum to continue during the year, such projects are also testament to the prowess of Man Industries and our cutting-edge technological capabilities,' said Nikhil Mansukhani, managing director of Man Industries. The development, Man Industries believes, marks yet another milestone in the company's journey toward expanding its global presence and serving strategic infrastructure and energy sectors worldwide. About Man Industries Man Industries, the flagship company of the Man Group, was established by the Mansukhani family in 1970. Under the leadership of R C Mansukhani, the group began its journey as an aluminum extrusions manufacturer in 1988 and has since evolved into a key player in the global line pipe industry. Today, Man Industries is one of the leading manufacturers and exporters of large-diameter carbon steel pipes—including Longitudinal Submerged Arc Welded (LSAW), Helically Submerged Arc Welded (HSAW), and Electric Resistance Welded (ERW) pipes. These products are widely used in high-pressure transmission applications across the oil & gas, petrochemical, water, fertilizers, dredging, and city gas distribution (CGD) sectors. The company operates three state-of-the-art manufacturing facilities. Two are located in Anjar, Gujarat—one equipped with two LSAW and two HSAW lines, and another focused on ERW pipe production (both API and non-API). The third facility is in Pithampur, Madhya Pradesh. Combined, these units offer an installed capacity of over 1.18 million tonnes per annum (MTPA). To diversify its product portfolio, Man Industries is investing around ₹600 crore to set up new capacities. This includes a stainless-steel seamless pipe manufacturing unit in Jammu and a new integrated line pipe and coating facility in Dammam, Saudi Arabia, aimed at serving the growing Middle East market.
Yahoo
5 days ago
- Business
- Yahoo
Factbox-Hedge funds lifted by stocks, stymied by bonds in May, say sources
By Nell Mackenzie and Summer Zhen LONDON (Reuters) -Hedge funds made gains in May on a weaker dollar and by exploiting market dislocations following April's global trade shock but faced losses in whipsawed commodities and fixed income markets, according to sources and bank research. Stocks bounced back last month as tariff worries ebbed while bond markets sold off as worries about high debt levels in big economies such as the United States and Japan resurfaced. Hedge funds globally returned a positive monthly return of 3% as of May 29, a JPMorgan prime brokerage note sent to clients on Friday and seen by Reuters on Monday showed. Industry returns were up 5% for the year so far, the note said. Stock picking hedge funds posted a 3% performance in May, while multi-strategy hedge funds trading many different strategies under one roof returned 2.5% and quantitative equity funds using systematic strategies returned 4.2%, the note said. Singapore's $1.1 billion multi-strategy hedge fund Arrowpoint Investment Partners benefited from exploiting markets roiled by tariff shocks and sees more arbitrage opportunities ahead, its chief investment officer told Reuters. Billionaire investor Cliff Asness's $135 billion hedge fund AQR Capital Management saw gains from stock selection and corporate arbitrage in its Apex Strategy, which returned a 2.4% May return net of fees, said a source. Systematic and trend following programmes that traded in stock markets were helped by their stock holdings. AQR's Helix Strategy, which follows market trends, was flat in May but has delivered a 7% return for 2025 through the end of May, as positive returns from stocks were offset by reversals across interest rate derivatives and trades which play differences across different bond tenors, said the source. London-listed Man Group's AHL Alpha fund returned a negative 2.19% for May and is down around 11% while its multi-strat fund had a positive May and has returned around 5% so far this year, said the fund's website. Systematic funds, which have limits on how much volatility their fund can tolerate have in recent months had to ditch trades, both losing and winning, even when the uncertainty roiling markets has been temporary, said an article written by portfolio managers at Man Group's AHL strategy in April. Fund/Hedge fund May return YTD return Dymon Asia Capital 3.3% 8% Arrowpoint Investment Partners ~3% AQR Apex Strategy 2.4% 10.6% AQR Helix Strategy 0.0% 7.0% AQR Delphi Long-Short Equity Strategy 1.8% 13.9% Man Group AHL Alpha Programme -2.19% -10.61% Man Strategies 1783 1.11% 5.35% Transtrend -5.42% -19.07% Mount Lucas Management -0.80% 2.55% Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
