Man Group Revamps $21.1B AHL Computer Models

9th Jul 2010 18:43

By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Man Group PLC's (EMG.LN) $21.1 billion AHL fund is bringing in new models that would have halved its losses in 2009, a Man Group spokesman told Dow Jones Newswires Friday. Man Group's flagship AHL fund uses computer models to exploit price trends in markets including stocks, bonds, foreign exchange, energy and commodities and poor performance at the fund has been responsible for shrinking business at the hedge-fund group. "AHL is and will remain a trend following manager and the changes came about as the result of long-term research programs - they are wholly unrelated to 2009's performance," the spokesman said. Just Thursday Man Group said that it could be selling products to investors in mainland China within a few years, if lobbying efforts pay off, and as the hedge-fund giant reported that assets under management fell 2.3% in the first quarter of its 2011 fiscal year. The listed hedge-fund group is also looking to distribute products in India. -By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; [email protected] (END) Dow Jones Newswires July 09, 2010 13:43 ET (17:43 GMT)