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Man For Sale (So To Speak)

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Finally, something quasi-exciting today (other than the planning of our upcoming "Whose Boobs?" contest, which we'll tell you all about in good time): the Man Group plans to list a hedge fund on the NYSE! Man, one of the largest hedge funds in the world, will be selling a closed-end fund that employs hedge fund strategies. Shares of the Man Dual Absolute Return Fund will be pawned for $20 each, with a minimum order of 100 shares (to maintain
the farce of hedge fund availability only to "accredited investors").
The fund's assets will be invested by two managers: About 80% will be under the watch of quantitative manager Tykhe Capital, using a long/short equity strategy. The rest will by managed by Man's AHL Core program, a mangaged-futures strategy.
Everyone is excited to point out that this move is indicative of a "broader trend of hedge-fund managers boosting their assets through exchange-traded funds that can be bought by both institutional and retail investors" (or something to that effect). We're just psyched to be getting some mileage out of what we'd previously thought was our retired "bukkake party of IPOs" tag.
Man Group to List Hedge Fund on NYSE [Forbes]