Hedge fund giant Man surges ahead on new dividend plan
Friday 02 March 2012
The world's biggest hedge fund manager, Man Group, yesterday saw its shares shoot up by 13 per cent, after the pace at which customers withdrew funds slowed dramatically and it launched a new way of paying dividends.
Peter Clarke, chief executive of Man, said it would pay out in dividends 100 per cent of its annual management fee – the steadiest part of its income. It will then top up that dividend with payments from its performance fee. These are volatile as funds' returns swing dramatically from year to year. Management fees would only fall if Man suffered a dramatic exodus of clients.
It said the management fee is currently adequate to pay a dividend of 22 cents a share for this calendar year. Investors could then get a bigger payout if the funds perform well.
Shares have halved in the past year due to concerns about outflows of funds.
However, they rose to $59.5bn (£37.3bn) at the end of February from $58.4bn in December.
- 1 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 2 Google April Fools': company unveils backwards search engine and huggable digital assistant
- 3 I might be an MP, but that doesn't stop me fighting sexism with my breasts
- 4 April Fools' Day 2015: The best hoax news stories from around the internet
- 5 Gamers confess the worst things they've done in The Sims
Holborn fire: Chaos as 2,000 people evacuated to escape toxic smoke filling central London
University of Cambridge: Remains of 1,300 scholars are found under building
April Fools' Day 2015: The best hoax news stories from around the internet
April Fools' Day 2015 live: The best pranks and fake stories from around the world
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
Revealed: Putin's army of pro-Kremlin bloggers
Katie Hopkins reported to the police for race hatred by Labour MP Simon Danczuk after tweet about Pakistani men
iJobs Money & Business
£20000 per annum + commission: SThree: Sthree have an exciting opportunity for...
£18000 - £32000 per annum: Recruitment Genius: A Telesales Executive is requir...
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...