• 28 Feb 2013 at 2:37 PM

Congratulations, Manny Roman! Here’s a Celebratory Bag of Sh*t

By Jon Shazar

Manny Roman isn’t having a great first day at the helm of the Man Group.

Even before he formally took over, things weren’t looking good: A GLG analyst, Carl Esprey, was among three hedge funders arrested by the Brits yesterday for insider-trading. Then, to herald his formal ascension, this:

Man Group’s funds had $2.7 billion of net outflows in the three months to Dec. 31, the sixth quarter of outflows in a row. Assets under management fell to $57 billion at the end of December, the company said in a statement on Thursday.

Mr. Roman said in the statement that “2012 was another tough year for Man. Trading conditions were highly challenging as markets continued to be dominated by political uncertainties in Europe and the U.S. and macroeconomic risks. Investor appetite remained muted.”

Oh yea, and it’s not getting any better:

He also said “business conditions remain very tough”, adding that “sales are likely to remain muted in the first half, and we are yet to see a slowdown in the rate of redemptions.”

GLG’s Esprey among those arrested by FSA -source [Reuters]
Investor Outflows Continue at Man Group [NYT]
Man Group Assets Fall, Adding to Pressure on New Chief Roman [Bloomberg]

Comments (13)

  1. 1
    Posted by Guest | February 28, 2013 at 2:39 PM

    Bag of sh*t = compilation of Shazar's posts…

  2. 2
    Posted by Hungry Cop | February 28, 2013 at 2:42 PM

    Hey Shazar, I'm gunna baste you like a shazurkey and eat you!

  3. 3
    Posted by Que es Shazar | February 28, 2013 at 2:45 PM

    I suspect I would have enjoyed this schadenfreude a hell of a lot more if Bess authored it. No, I'm now certain I would have. Shazar, Clusterstock is hiring…just a thought.

  4. 4
    Posted by Im_a_Dude | February 28, 2013 at 2:45 PM

    Shazar, you're not having a great day either.

  5. 5
    Posted by John Doe | February 28, 2013 at 2:51 PM

    He' s still richer than you.

  6. 6
    Posted by Guest | February 28, 2013 at 2:51 PM

    Oh yea, and it’s not getting any better:

  7. 7
    Posted by Jane Doe | February 28, 2013 at 2:54 PM

    Your child support payments are late, again!

  8. 8
    Posted by Shaz's Inner Thought | February 28, 2013 at 3:08 PM
  9. 9
    Posted by Matt's Excel 2013 | February 28, 2013 at 3:08 PM

    Yep, that's about right.

  10. 10
    Posted by Matt's Excel 2007 | February 28, 2013 at 3:17 PM

    Matt is this true?

  11. 11
    Posted by Guesto | February 28, 2013 at 4:09 PM

    Daaaammmmnnnnn. Yeah, Shazar sizucks.

  12. 12
    Posted by The abuser | February 28, 2013 at 4:10 PM

    Last good trade these guys made was spinning out Man Financia/MF for 30 $ share in 2007 ( 3 bil )

  13. 13
    Posted by Vamp Squid | February 28, 2013 at 4:50 PM

    The Shazster is the third offical member of DJ Jazzy Jeff and the Fresh Prince