Man Group Luke Ellis
Man Group's Ellis Foresees Investors Withdrawing Hedge Money
Ellis, who oversees $14.5 billion in assets at the world's biggest listed hedge fund manager, said that while redemptions across the $2 trillion industry have so far been muted despite poor returns, clients considering changing their portfolios may yet pull out.
"There will be a lot of people feeling uncomfortable about performance over the last six months," he told journalists on Monday.
"A lot of people are trying to work out what to do for year-end... I'd expect you'd see net redemptions from the average hedge fund over the fourth quarter."
Ellis's comments come towards the end of a tricky year for the hedge fund industry, which is facing its second year of losses in four after a volatile summer for markets amidst fears over the euro zone's debt crisis and the possibility of another recession. Source
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