Man Group confirms takeover talks with Numeric

29th May 2014 08:14

Man Group has confirmed it is in talks to buy US money manager Numeric Holdings.The world's largest publicly traded hedge-fund manager said the discussions are "ongoing and may or may not lead to a transaction". Numeric, which uses quantitative analysis to make investments, manages $13.9bn.Man Group has been acquiring money managers since 2010 to diversify its business, including GLG Partners and FRM Holdings.The move came after analysts questioned whether the firm was too reliant on the AHL Diversified quant funds, its biggest hedge fund family at $11.3bn. RD