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词条 Man Group
释义

  1. History

  2. Structure and operations

      Man AHL    Man Numeric    Man GLG    Man FRM    Man GPM  

  3. Strategy

      Mergers and acquisitions  

  4. RMF and Bernard Madoff

  5. Man Booker Prizes

  6. Corporate responsibility

      Man Charitable Trust    Oxford-Man Institute    Former sponsorships and charitable initiatives  

  7. See also

  8. References

  9. Further reading

  10. External links

{{Use dmy dates|date=October 2015}}{{Infobox company
| name = Man Group plc
| logo =
| type = Public
| traded_as = {{lse|EMG}}
| founder = James Man
| area_served = Worldwide
| key_people = {{unbulleted list
| Lord Livingston {{small|Chairman}}
| Luke Ellis {{small|Group CEO}}
| Jonathan Sorrell {{small|President}}
| {{Nowrap|Pierre Lagrange {{small|Senior Advisor}}}}[1]
| Mark Jones, {{small|CFO (designate)}}
| {{Nowrap|Sandy Rattray, {{small|Chief Investment Officer}}}}
| {{Nowrap|Robyn Grew, {{small|Chief Administrative Officer}}

}}}}


| industry = Financial services
| products = Investment products
| revenue = US$960 million (2018)[2]
| operating_income= US$278 million (2018)[2]
| net_income = US273 million (2018)[2]
| num_employees = 1,435 (2018)[2]
| divisions = {{unbulleted list
| Man AHL
| Man Numeric
| Man GLG
| Man FRM
| Man GPM
}}
| slogan =
| homepage = [https://www.man.com/ Man.com]
| foundation = {{start date and age|1783}}
| location = Riverbank House
2 Swan Lane
London
United Kingdom
| market cap =
}}Man Group plc is an active management business[3] initially founded as a sugar cooperage and brokerage by James Man in 1783. It provides a range of funds for institutional and private investors globally and is the world's largest publicly traded hedge fund company, reporting $103.5 billion in funds under management as of September 2017.[4] The firm is headquartered at Riverbank House in London and employs over 1,000 people in various locations worldwide.[5] The company was a sponsor of the arts and charitable initiatives, including the Man Booker Prize.[6]

History

The company was founded by James Man in 1783 as a sugar cooperage and brokerage, based in Harp Lane in Billingsgate. The following year Man Group won the contract to supply the Royal Navy with the rum for its daily "rum tot", a tradition under which all sailors were allocated a daily rum ration. This tradition continued until 1970, with Man Group holding the contract throughout.[7] The company further expanded from sugar and rum into other commodities such as coffee and cocoa. The company traded as a commodities business throughout the 19th and 20th century, gradually diversifying into financial services following the advent of financial exchanges to hedge commodity exposures.[7]

The firm was renamed ED & F Man in 1869, based on the initials of James Man's grandsons Edward Desborough Man and Fredrick Man. ED & F Man listed on the London Stock Exchange in 1994. In 2000 the company divided into two entirely separate businesses, with Man Group plc focusing exclusively on financial services and ED & F Man (the commodities division) taken private in a management buy-out.[8]

In 2007 Man Group moved into its present form as an investment management business, following the demerger and flotation of its brokerage business (known as MF Global) on the New York Stock Exchange.[9] Man Group attained its current structure over time through acquisition. Man AHL is the oldest investment manager of the group, having been acquired over time from 1989 to 1994. Man Group's other investment managers were formed via acquisition between 2010 and 2017, beginning with the 2010 acquisition of Man GLG (previously GLG Partners) for $1.6 billion,[14] followed by Man FRM in 2012,[15] Man Numeric in 2014 and Man GPM in 2017.[16]

In late 2017, the group announced the creation of a quantitative hedge fund in China. The firm has held licences to operate in the country since 2012, but has more recently been provided clearance to operate as a private securities investment fund manager: Man is one of the first global firms to receive this accreditation. The fund will be managed by Man's AHL division.[10]

Structure and operations

Man Group offers strategies across a variety of investment approaches, styles and asset classes:[11]

Man AHL

Founded in 1987, Man AHL is a diversified quantitative investment manager offering absolute return and long-only funds, with both momentum and non-momentum strategies.[12]

Man Numeric

Man Numeric was established in 1989 and acquired by Man Group in 2014. A Boston-based quantitative asset manager, Man Numeric offers long-only, active extension and hedged equity strategies. Man Group acquired Man Numeric to build a diversified quantitative fund management business in non-momentum strategies, and to develop Man Group's presence in the North American market.[13]

Man GLG

Man GLG was established in London in 1995 as GLG Partners. It was publicly listed in 2007 before being acquired by Man Group in 2010 for $1.6 billion. Man GLG is a multi-team discretionary investment manager. Man GLG utilises absolute return and long-only strategies across asset classes, sectors and geographies. The January 2015 acquisition of Silvermine was expected to boost the division's US CLO business.[14]

Man FRM

Established in 1991, and acquired by Man Group in 2012, Man FRM's 58 research and investment professionals operate from London, New York, Tokyo, Guernsey and Pfäffikon (SZ), Switzerland.[15]

Man GPM

Man Global Private Markets Group (Man GPM) launched in 2017, with the completed acquisition of Aalto Invest Holding AG, a real estate investment management company with $1.7bn in assets under management at the time.[16]

Strategy

Luke Ellis was appointed as Man Group's CEO in September 2016.[17] He succeeded Manny Roman, whom Ellis had worked with for seven years at Man Group and had known for two decades. Ellis' strategic objective for Man Group is to continue diversifying the firm through acquisition, as well as invest in its infrastructure.[18] Man Group has seen significant cost-cutting, led by Co-President Jonathan Sorrell, with a $270 million cost-saving programme planned for delivery in 2015 achieved ahead of schedule.[19][20][21] Sorrell's role as President was expanded by Ellis to include corporate strategy, private markets and acquisitions.[22]

The Group is likely to be affected by changes to the Markets in Financial Instruments Directive 2004, known as "MiFID II", which go into force in early 2018. This regulation changes the way in which companies like Man pass on costs to their investment clients, such as brokerage and research, which has caused controversy in recent years. The Group announced a U-turn in October 2017 clarifying that it would not pass on research costs to clients as specified by MiFID II, which was likely to impact pre-tax profits by $10–15 million in 2018.[23]

Mergers and acquisitions

RMF and Bernard Madoff

RMF, a former division of Man Group, invested 0.5% of its funds under management at the time with various 3rd party funds which, in turn, had positions in funds ultimately managed by Bernard Madoff. RMF was one of 107 financial institutions and 13,000 individuals to invest in such funds. As of 2014, 59% of all such funds have been recovered and returned to various institutions and individuals.[44]

Man Booker Prizes

Man Group sponsored The Man Booker literary prize from 2002[45] to 2019.[46] Described by The Telegraph as "...arguably the UK's most prestigious" literary prize, the £50,000 award was created in 1973 to increase the reading of quality fiction and attract "the intelligent general audience".[47][48] Each year the winner is announced at an awards dinner broadcast live by BBC Television. Inclusion into the award's shortlist and attendant press coverage is known to provide a significant boost to book sales and bookstore visits, with sales trebling in some cases.[49]

The 2017 prize was awarded to the American writer George Saunders, for Lincoln in the Bardo.[50] Previous winners include Philip Roth and Lydia Davis.[48] The 2014 award went to author Richard Flanagan for The Narrow Road to the Deep North, with his prize presented by Chair of judges AC Grayling at London's Guildhall. It was the first year in which eligibility for the award was expanded to include any novel written in English and published in the UK.[51] Man also sponsors the Man Booker International Prize. This £50,000 prize is awarded each year on the basis of a single book translated into English, and aims to encourage the publishing and reading of quality fiction in translation. The prize is divided equally between author and translator.[52]

Corporate responsibility

Man Group supports various charitable initiatives, principally through the Man Charitable Trust and the Oxford-Man Institute:

Man Charitable Trust

Set up in 1978, The Man Charitable Trust is an independent registered charity that funds small to medium-size charities focusing on literacy and numeracy programmes. It also funds programmes in support of access to education for disadvantaged people. In 2014 the trust awarded £427,075 to UK charities, including £50,000 to Beanstalk, a charity that recruits and trains volunteers to provide reading support in primary schools, and £50,000 to National Numeracy, a charity dedicated to raising low levels of numeracy among adults and children.[53][54]

Oxford-Man Institute

In June 2007 Man launched a joint project with the University of Oxford, the Oxford-Man Institute of Quantitative Finance. Man Group's initial financial commitment to the Institute was £13.75 million, one of the largest single donations to a British higher education institution in recent years.[55] In 2016 the Oxford-Man Institute expanded its focus on machine learning and data analytics, becoming part of the University of Oxford's Department of Engineering Science. The development of the OMI's focus creates a hub for machine learning and data analysis at Eagle House, the current home of the OMI and Man AHL's Oxford Research lab.[56]

Former sponsorships and charitable initiatives

Man Group is a former sponsor of the Man Group International Climate Change Award and the Man Asian Literary Prize.[57][58] In the 1990s, Man was a founding member of the East London Partnership, which became the East London Business Alliance, a business-community outreach charity promoting corporate social responsibility and employee volunteering.[59]

See also

{{Portal|Companies}}
  • Hedge fund
  • Man Booker Prize
  • Man Booker International Prize
  • List of investors in Bernard L. Madoff Securities

References

1. ^{{cite web|last1=Fortado|first1=Lindsay|title=Pierre Lagrange to take on senior advisory role at Man Group|url=https://www.ft.com/content/3a66a39a-bd67-11e6-8b45-b8b81dd5d080|website=FT.com|publisher=Nikkei|accessdate=19 December 2016}}
2. ^{{Cite web|url=https://www.man.com/documents/download/kdmwd-sMiRH-S2ozi-Qw5A2|publisher=Man Group|title=Annual Report 2018|format= |accessdate=18 March 2019}}
3. ^{{Cite web|url=https://www.ft.com/content/bcb0ccb6-e168-11e6-8405-9e5580d6e5fb|title=Man Group boss confident that performance will pick up|website=Financial Times|access-date=2017-10-30}}
4. ^{{Cite news|url=https://www.marketwatch.com/story/man-groups-assets-under-management-rise-8-2017-10-13|title=Man Group's assets under management rise 8%|last=Calatayud|first=Adria|work=MarketWatch|access-date=2017-10-31|language=en-US}}
5. ^Global 50 Funds of Hedge Funds, The Hedgefund Journal, June 2009.
6. ^{{cite news|url=http://www.newstatesman.com/books/2008/10/booker-prize-british-literary|title=The Booker's Big Bang|author= Sutherland, John|work=New Statesman|date=9 October 2008|accessdate=3 September 2009}}
7. ^{{Cite web |url=http://www.mangroupplc.com/assets/pdf/media/timeline.pdf |title=Man Group: Timeline |format=PDF |accessdate=18 April 2011 |deadurl=yes |archiveurl=https://web.archive.org/web/20110216220802/http://www.mangroupplc.com/assets/pdf/media/timeline.pdf |archivedate=16 February 2011 |df=dmy-all }}
8. ^{{cite web|url=http://www.strauscom.com/corigins/pkedfm01.html|title=Corigins|work=strauscom.com|accessdate=30 March 2015}}
9. ^Man Group's MF Global unit files for IPO Reuters, 1 June 2007
10. ^[https://www.ft.com/content/cf0ac192-dc3e-11e7-a039-c64b1c09b482, Man Group to launch quant hedge fund in China] Financial Times, December 2017
11. ^{{cite web|url=https://www.man.com/our-offering#_our-strategies|title=Our offering|publisher=Man Group|accessdate=22 April 2017}}
12. ^{{cite web|url=https://www.risk.net/awards/5368836/quant-hedge-fund-of-the-year-man-ahl|title=Quant hedge fund of the year: Man AHL|publisher=Risk.net|accessdate=26 March 2018}}
13. ^{{cite web|url=https://dealbook.nytimes.com/2014/06/19/man-group-to-buy-bostons-numeric-holdings/|title=Man Group to Buy Numeric Holdings of Boston|publisher=Deal Book|date=19 June 2014|accessdate=27 March 2018}}
14. ^{{cite web|author1=Miles Johnson|title=Man Group buys Silvermine for $23.5m|url=http://www.ft.com/cms/s/0/203436b4-8609-11e4-a105-00144feabdc0.html#axzz3frVuQIpX|website=Ft.com|publisher=FT.com|accessdate=14 July 2015|date=17 December 2014}}
15. ^{{cite news|title=Man Group to Buy FRM Holdings for Up to $83 Million|website=NYTimes.com|publisher=New York Times}}
16. ^{{Cite web|url=https://www.ft.com/content/e046ea47-1c1f-3c9e-a97a-7857a69f6179|title=Man Group completes deal for property manager Aalto Invest|last=Khan|first=Mehreen|date=|website=Financial Times|access-date=2017-10-30}}
17. ^{{cite web|last1=Eschenbacher|first1=Stefanie|title=Luke Ellis, the New Man in Charge at Man Group|url=https://www.wsj.com/articles/luke-ellis-the-new-man-in-charge-at-man-group-1469033154|website=WSJ.com|publisher=Dow Jones|accessdate=10 November 2016}}
18. ^{{cite web|title=Luke Ellis to succeed PIMCO-bound Manny Roman as Man Group CEO|url=http://www.hedgeweek.com/2016/07/20/241797/luke-ellis-succeed-manny-roman-ceo-man-group|website=HedgeWeek.com|publisher=GFM Ltd|accessdate=10 November 2016}}
19. ^{{cite news|title=Man Group steps up search for deal to diversify business|url=http://www.ft.com/intl/cms/s/0/cac89bca-8ff0-11e3-aee9-00144feab7de.html#axzz36b6HX4kM|date=19 February 2014|accessdate=5 July 2014}}
20. ^{{cite news|title=Manny's Roman empire taking shape|url=http://www.cityam.com/1403227413/bottom-line-manny-roman-s-empire-taking-shape}}
21. ^{{cite web |url=http://www.ft.com/cms/s/0/0be18294-2b16-11e6-bf8d-26294ad519fc.html#axzz4BTVmmHnG |title=Man Group promotes CFO Jonathan Sorrell to co-president |newspaper=Financial Times |date= June 5, 2016 |author=Lindsay Fortado, Hedge Fund Correspondent |accessdate= June 15, 2016}}
22. ^{{cite web|last1=Dakers|first1=Marion|title=New boss of Man Group shuffles top staff|url=https://www.telegraph.co.uk/business/2016/09/02/new-boss-of-man-group-shuffles-top-staff/|website=Telegraph.co.uk|publisher=The Telegraph newspaper group|accessdate=10 November 2016}}
23. ^Man Group reverses Mifid II research decision, https://www.fnlondon.com/articles/man-group-reverses-mifid-ii-research-decision-20171013
24. ^Man Is Feeling The Pull Of Gravity Business Week, 1 November 2004
25. ^ED&F Man Group PLC acquires Glenwood Capital Investements Thomson, 10 November 2000
26. ^Man Group buys Australian hedge fund group Financial News
27. ^Man Group PLC acquires RMF Investment Group Thomson, 31 May 2002
28. ^Man Group PLC acquires a minority stake in BlueCrest Capital Management Thomson, 31 December 2003
29. ^{{cite web|last1=Jones|first1=Sam|title=Man Group sells BlueCrest stake|url=http://www.ft.com/cms/s/0/886c3cba-54e2-11e0-96f3-00144feab49a.html#axzz3g51UIsuS|website=FT.com|publisher=Pearson|accessdate=16 July 2015|date=23 March 2011}}
30. ^Man Group sets sail with Pemba into credit Hedge Funds Review, April 2007
31. ^Man Group PLC acquires Ore Hill Partners LLC (pending) Thomson, 31 March 2008
32. ^Man ECO announces $635 million raised for China Methane Recovery Fund CPI Financial, 10 April 2008
33. ^Man Group PLC acquires a minority stake in Nephila Capital Ltd Thomson, 6 June 2008
34. ^Man agrees takeover of GLG FT, 17 May 2010
35. ^Man Group to acquire rival FRM FT, 21 May 2012
36. ^[https://www.maninvestments.com.au/about/media-centre/acquisition-of-frm-holdings-limited-by-man-group Acquisition of FRM Holdings Limited by Man Group] {{webarchive|url=https://web.archive.org/web/20140707164219/http://www.maninvestments.com.au/about/media-centre/acquisition-of-frm-holdings-limited-by-man-group |date=7 July 2014 }} maninvestments.com.au, 17 July 2012
37. ^{{cite web|title=Man Group closes Pine Grove Asset Management acquisition|url=http://www.hedgeweek.com/2014/08/05/208352/man-group-closes-pine-grove-asset-management-acquisition|website=Hedgeweek.com|publisher=Hedgeweek|accessdate=20 July 2015}}
38. ^Man Group's flagship funds stage continued recovery Financial Times, 8 September 2014
39. ^[https://www.bloomberg.com/news/articles/2014-12-08/man-group-buys-merrill-lynch-s-1-2-billion-fund-of-hedge-funds Man Group Buys Merrill Lynch's $1.2 Billion Funds of Hedge Funds] Bloomberg, 8 December 2014
40. ^{{cite web|title=Man Group trading statement - March 2015|url=https://otp.tools.investis.com/clients/uk/man_group_plc1/rns/regulatory-story.aspx?cid=95&newsid=510627|website=Man.com|publisher=Man Group|accessdate=18 March 2019}}
41. ^Man Group to Acquire Silvermine Capital Management Bloomberg, 19 December 2014
42. ^Man Group to buy asset manager NewSmith Financial Times, 20 February 2015
43. ^Man Group acquires Aalto to launch private markets arm Investment Week, 14 October 2016
44. ^{{cite news|title=Madoff Trustee Tops $10 Billion Recovery With Bank Deal|url=https://www.bloomberg.com/news/articles/2014-01-07/madoff-trustee-to-get-543-million-in-jpmorgan-accord|website=Bloomberg.com|accessdate=14 July 2015|first=Erik|last=Larson|date=8 January 2014}}
45. ^{{Cite web|url=http://www.themanbookerprize.com |title=The Man Booker Prize |publisher=The Man Booker Prize |accessdate=18 April 2011}}
46. ^{{cite web |url=http://translatedlit.com/news/booker-prizes-lose-major-sponsor/ |title=Booker Prizes Lose Major Sponsor|accessdate=27 January 2019}}
47. ^{{cite news|title=Top 25 Literary Prizes|url=https://www.telegraph.co.uk/culture/books/bookprizes/10139413/top-literary-prizes.html|website=Telegraph.co.uk|accessdate=17 June 2015|location=London|first1=Jon|last1=Stock|first2=Kealey|last2=Rigden|date=15 October 2013}}
48. ^{{cite web|title=The Prizes|url=http://www.themanbookerprize.com/background|publisher=Man Booker|accessdate=17 June 2015|deadurl=yes|archiveurl=https://web.archive.org/web/20150618182115/http://www.themanbookerprize.com/background|archivedate=18 June 2015|df=dmy-all}}
49. ^{{cite web|title=Bookser sales boost down|url=http://www.thebookseller.com/news/man-booker-sales-boost-down-2011|website=TheBookseller.com|publisher=The Bookseller|accessdate=17 June 2015}}
50. ^{{Cite news|url=https://www.bbc.co.uk/news/entertainment-arts-41585512|title=Booker winner took 20 years to write|date=2017-10-18|work=BBC News|access-date=2017-10-31|language=en-GB}}
51. ^{{cite web|title=Richard Flanagan wins Man Booker prize with 'timeless depiction of war'|url=https://www.theguardian.com/books/2014/oct/14/richard-flanagan-wins-man-booker-prize-2014|website=TheGuardian.com|publisher=Guardian Media Trust|accessdate=14 July 2015}}
52. ^{{Cite web|url=http://themanbookerprize.com/sites/manbosamjo/files/uploadedfiles/files/170717%20MBI2018%20Rules%20And%20Entry%20Form.pdf|title=The Man Booker International Prize 2018 Rules|last=|first=|date=|website=themanbookerprize.com|access-date=}}
53. ^{{cite web|title=Our Supporters|url=http://www.beanstalkcharity.org.uk/support-us/our-supporters|publisher=Beanstalk|accessdate=14 July 2015|deadurl=yes|archiveurl=https://web.archive.org/web/20140720033822/http://www.beanstalkcharity.org.uk/support-us/our-supporters|archivedate=20 July 2014|df=dmy-all}}
54. ^{{cite web|title=Count Me In: Improving numeracy in England - A guide for charities and funders|url=http://www.nationalnumeracy.org.uk/sites/default/files/resources_report_-_count_me_in.pdf|website=NationalNumeracy.org|publisher=National Numeracy|accessdate=14 July 2015}}
55. ^Oxford-Man Institute of Quantitative Finance officially opened University of Oxford, 19 September 2007
56. ^{{cite web|title=Areas of research|url=http://www.oxford-man.ox.ac.uk/Areas-of-research|website=Oxford-man.ox.ac.uk|publisher=Oxford Man Institute|accessdate=17 June 2015}}
57. ^{{Cite web|author=MALP News |url=http://www.manasianliteraryprize.org |title=Man Asian Literary Prize |publisher=Man Asian Literary Prize |accessdate=18 April 2011}}
58. ^{{cite web|last=Allen |first=Katie |title=Asian Literary Prize seeks new sponsor |url=http://www.thebookseller.com/news/asian-literary-prize-seeks-new-sponsor.html|publisher=The Bookseller |date=18 October 2012 |accessdate=19 November 2012}}
59. ^{{cite book |last1=Ball |first1=Stephen J |last2=Junemann|first2=Carolina|date=2012 |title=Networks, New Governance and Education |url=https://books.google.com/books?id=XGjkemFLLHoC&pg=PA89&dq=%22east+london+business+alliance%22&hl=en&sa=X&ei=6ltNU5asKY6YhQeR8IHIDA&ved=0CD0Q6AEwAQ#v=onepage&q=%22east%20london%20business%20alliance%22&f=false |page=89: 'And Man was a founding member of what was called East London Partnership, which became East London Business Alliance, a business-community outreach charity promoting corporate social responsibility (CSR) and employee volunteering|accessdate=1 September 2014}}

Further reading

  • Jenkins, Alan C., 1989, The House of Man, London, UK: Rainbird Publishing. {{ISBN|0-09-995370-6}}

External links

  • [https://www.man.com Official site]
  • [https://www.man.com Man Group]
{{FTSE 250 Index constituents}}{{Hedge funds}}

6 : Financial services companies based in the City of London|Companies listed on the London Stock Exchange|Hedge fund firms in the United Kingdom|Madoff investment scandal|Companies established in 1783|1783 establishments in England

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