Director dealings: Man CFO lops off chunk of hedge fund manager

17th Nov 2016 14:07

(ShareCast News) - Man Group chief financial officer Jonathan Sorrell sold £802,000 worth of shares in the hedge fund manager on Thursday.Sorrell, who was appointed to the board in June 2012 after joining Man as head of strategy and corporate finance in 2011 from a previous career at Goldman Sachs, sold 639,489 shares at a price of 125.38p per share.His sale comes two months after investment chief Luke Ellis was promoted over his head as the company's new chief executive, following the departure of former boss Manny Roman. Last month the FTSE 250 fund manager reported a jump in third-quarter funds under management and announced an agreement to acquire real asset manager Aalto Invest Holding AG.Funds under management increased 6% to $80.7bn, with net inflows of $1.3bn, supported by demand from institutional investors.Brokers have mostly been positive about the company as it conducts a $100m buyback to boost its near-term earnings per share, with Jefferies admiring Man for its defensive qualities, though the performance of the group's investment manager business AHL remains a drag on sentiment.Top Director BuysRelx Plc (REL)Director name: Hauser,WolfhartAmount purchased: 7,435 @ 1,337.99pValue: £99,479.56South32 Limited (di) (S32)Director name: Kukielski ,PeterAmount purchased: 32,800 @ A$2.77Value: A$56,275.01Picton Property Income Ltd (PCTN)Director name: Lewis,RogerAmount purchased: 70,000 @ 74.21pValue: £51,945.60Computacenter (CCC)Director name: Lock,GregAmount purchased: 5,000 @ 721.00pValue: £36,050.00Sse (SSE)Director name: Bickerstaffe,KatieAmount purchased: 677 @ 1,461.00pValue: £9,890.97Sse (SSE)Director name: Bickerstaffe,KatieAmount purchased: 677 @ 1,460.00pValue: £9,884.20Science In Sport (SIS)Director name: Moon,StephenAmount purchased: 10,000 @ 63.00pValue: £6,300.00Majestic Wine (WINE)Director name: Harding,IanAmount purchased: 2,000 @ 304.00pValue: £6,080.00Sinclair Pharma (SPH)Director name: Olby,AlanAmount purchased: 6,748 @ 28.50pValue: £1,923.18Lloyds Banking Group (LLOY)Director name: Horta-Osorio,AntonioAmount purchased: 3,069 @ 61.55pValue: £1,888.97Supergroup (SGP)Director name: Cartwright,Andrea Amount purchased: 10 @ 1,570.00pValue: £157.00Supergroup (SGP)Director name: Sutherland ,EuanAmount purchased: 10 @ 1,517.00pValue: £151.70Sig (SHI)Director name: Robertson,DouglasAmount purchased: 166 @ 90.45pValue: £150.15Jpmorgan Asian Investment Trust (JAI)Director name: Gould,RonaldAmount purchased: 46 @ 269.67pValue: £124.05Top Director SellsRedde (REDD)Director name: Ward,MartinAmount sold after options: 4,000,000 @ 170.00pValue: £6,800,000.19Redde (REDD)Director name: Oakley,StephenAmount sold: 2,000,000 @ 170.00pValue: £3,400,000.10Redde (REDD)Director name: Oakley,StephenAmount sold: 2,000,000 @ 170.00pValue: £3,400,000.10Man Group (EMG)Director name: Sorrell,Jonathan Amount sold: 639,489 @ 125.38pValue: £801,765.11Stadium Group (SDM)Director name: Peppiatt,CharlesAmount sold: 116,227 @ 77.00pValue: £89,494.79