Rise in assets, acquisition and buyback boost Man shares
Man Group (EMG.L), the world's biggest listed hedge fund, announced a rise in third-quarter assets under management, an acquisition and plans to buy back $100 million of shares, sending its stock as much as 17 percent higher on Friday.
Having fallen nearly 40 percent this year at Thursday's close, the shares were on course for their biggest one-day gain in more than seven years.
Man said it had $80.7 billion of assets under management at the end of September, up from $76.4 billion at the end of June and beating analysts' expectations by up to 4 percent, helped by investment gains of $2.5... read more
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