Newspaper tips round-up: Man, UBM

19th Oct 2012 06:59

Tempus in The Times writes that while Man Group remains the world's biggest listed hedge fund manager, it has become worryingly accustomed to giving investors bad news. Yesterday Man reported its fifth successive quarter of net fund outflows, up from $1.4 bn to $2.2 bn, although it blamed the increase on poor sales rather than client withdrawals. Its AHL fund, now depleted to $16.3 billion, lost 6.4 per cent last year and is 0.3 per cent lower this year ? 14 per cent below the level needed to generate performance fees. The simple truth is that buying Man shares is a bet on the distortions being removed from world markets, and AHL's ability to make money out of it. Analysts at Numis describe the group as "uninvestable", while institutional investors are threatening to oust the chief executive, Peter Clarke, unless there is an improvement. The simple truth is that buying Man shares is a bet on the distortions being removed from world markets, and AHL's ability to make money out of it.Tempus writes that UBM's nine-month trading statement proved more enervating than this week's Informa numbers, with overall sales up 4 per cent at £735 million and like-for-like growth up 5 per cent. Adjusted operating profit grew 11 per cent to £142 million and the company maintained its guidance for underlying growth of up to 5 per cent and improved margins to more than 19.3 per cent. UBM entered the year boasting of a steep discount to peers but a strong run since summer ? with shares up more than a third since early June ? has closed that window. Management has taken the bold step to cut adrift data services, but the shares, which trade at 12.5 times projected profit, look up with events. Hold until the data services deal is done.Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.