Man Group Shares Fall After Large Client Withdrawal
Shares in Man Group fell today after the hedge fund reported flat assets under management and a major redemption. Total assets reached 228.7 billion dollars.
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Shares of MAN GROUP PLC/JERSEY experienced a sharp decline on Thursday after the hedge fund manager reported a significant $6.1 billion withdrawal by a single client, causing total assets under management (AUM) to stagnate during the first quarter. The London-listed firm saw its stock drop as much as 7% in early trading before paring some losses to settle near a 5% daily decline. Despite the volatility, the stock remains up 9% for the year.
