I suspect trading tomorrow will probably answer this conundrum, but I know there are some far wiser owls than me that contribute to this bb & I would be interested in their opinions.

My question is this: the chart below looks to me like a pullback of the uptrend (ie when it went north through 14.00) however I am unsure as it has now broken down through 14.00 whether this is trending up or down :-(

So what do you think - up or down, or should I just flip a coin :-)) ?

Ditto..

expecting an trading update in a couple of weeks, wonder if the outflows will show any sign of slowing ?

last weekly perf a bit better on AHL, but still 16% below HWM and so the performance fees will be dropping away

would expect the street to continue to downgrade nos up to the release

11 March 2010

Date of Pre-Close Trading Update and Full Year Results

"Man Group plc confirms that it will release its pre-close trading update for the year ending 31 March 2010 on Wednesday 24 March at 7am (GMT). There will be a conference call at 8am (GMT). Man's full year results announcement will follow on Thursday 27th May."

As at the close of business on 8 March 2010, the nav of Man ahl Diversified Futures Ltd was US$35.75. up 25c.

I think there were large sells by 2 directors in the last few days.

Was thinking of buying a few, but hesitating for a little longer.

I'll sell you some fred.. still waiting for the next spike....it was looking good all that time ago..

Not to put to fine a point on it Sarkozy is a twat! :o))

Summary from Digitallook:
"Hedge fund manager Man Group is comfortably the highest yielding stock among FTSE 100 constituents, but a rebasing a City euphemism for a cut of the dividend could be on the way, according to Morgan Stanley.

The shares are currently yielding 11.77% based on historical dividend payments and though Morgan Stanley thinks the company will dip into reserves to hold its divi at 44 cents in fiscal 2010 it may not be so keen to do so again in fiscal 2011.

Given below-average performance fees and slower recovery in sales momentum, we see an increasing likelihood that dividends will be rebased and assume a ~45% reduction in DPS [dividend per share] to $0.25 for FY11e [fiscal year 2011 estimate], implying just covered by FY11 earnings, Morgan Stanley analyst Bruce Hamilton said.

Hamilton has chopped his price target for Man from 340p to 260p.

Elsewhere in the broking community Numis Securities has downgraded Man from buy to add."

Business Financial Newswire
"Hedge fund manager Man Group said Funds under Management (FUM) at end-March 2010 are currently estimated at $39.1bn, down from $46.8bn the prior year.

Fourth quarter sales remain subdued at an estimated $1bn, with redemption levels stable ($2.5bn in Q4).

Mandate wins for the multi-manager business were around $1.5bn during the fourth quarter - to be included in FUM over the coming quarters.

Trading conditions for the managed futures style have improved, giving positive AHL performance for the calendar year to date.

Profit before tax and adjusting items for the year to end-March is estimated at $530m.

Diluted earnings per share were an estimated 23 cents.

Man said the financial position remains strong, with a regulatory capital surplus of $1.5bn and net cash of $1.5bn.

The group intends to recommend a final dividend of 24.8 cents per share, giving an unchanged total dividend for the year of 44 cents per share."

Summary of note from Merrill Lynch today:
"So, clean numbers are set to be a bit ahead of our estimates, and AUM was also a bit better than expectations. Sales, though, were subdued. The companys outlook statement sounds as if the company has a strong roster of retail products on the launchpad, but that these require material positive performance from AHL to produce strong sales. AHL is up 5% from the lows, but we presume that at least another month or two of positive performance would be called for here. We will therefore probably trim FY 11 and FY 12 estimates by mid single digits, essentially reflecting a lost quarter or so of retail sales.

Man remains well financed, with surplus capital of $1.5bn, and with powerful distribution and product structuring capacities. If you believe, as we do, that there is no evidence that AHL has broken, the stock is clearly undervalued. At some point, be it in FY 11 or FY 12, Man will earn normalised performance fees, at which point the stock will be trading on a mid single digit P/E adjusted for surplus capital."

Business Financial Newswire
"Man Group upgraded to outperform from underperform at Credit Suisse"

Business Financial Newswire
"Man Group is to acquire GLG Partners for $1.6bn.

As at 31 March 2010, GLG had funds under management of approximately $23.7bn. GLG generated non-GAAP adjusted net income approximately $81m for the year ended 31 December 2009.

Man says it has identified annual potential cost savings of approximately $50m with one third expected to be achieved in the financial year ending in 2011 and the balance expected in the first six months of the financial year ending in 2012.

The Acquisition is expected to be earnings accretive in the financial year ending in 2012 and earnings neutral in the financial year ending in 2011.

Jon Aisbitt, Chairman of Man, says:"I am delighted to announce Man's proposed acquisition of GLG to create a diversified, world-leading alternative investment manager with USD63 billion in funds under management.

"It is central to Man's stated strategy of acquiring high quality discretionary investment management capability to broaden our range of diversified, liquid strategies for the benefit of our investors.

" The combination of the two businesses aligns the interests of both firms' fund investors, management and shareholders and creates a well capitalised industry leader."

From Traders thread;
Hedge fund manager Man Group lost 2.4p at 219.1p after announcing the acquisition of peer GLG Partners for $1.6bn, a 55% premium to Friday's closing price. Investors are concerned that Man are over-paying for the asset at a time when the industry is under heavy pressure from politicians and regulators.

Still in and waiting for it to exceed 3....could be long wait..

Broker note from Evolution Secs:
"Mans acquisition of GLG to create an alternative fund manager with FUM of US$63bn makes good industrial sense given the benefits of scale in a more regulated and more institutionalised market place. However, with the real value in the deal arising from revenue synergies as GLGs product is combined with Mans distribution, it is likely that investors will demand both detail and delivery to realise value.
DETAILS Mans deployment of US$1bn of its cash resources to acquire GLGs FUM of US$23.7bn is set to combine GLGs product with Mans product structuring and market leading distribution. The limited overlap in distribution, geography and in client type offers clear opportunities for future sales if the integration can be managed well. Given the close relationship between Man and GLG over a number of years (as Man invested in GLGs funds) and the limited scope of any integration, the integration risk should be more manageable than is usually the case.
VALUATION AND RECOMMENDATION Given the limited clarity over GLGS potential earnings, we retain our Buy as we look to work through a clearer view of accretion than the guidance of accretive in FY2011."

Business Financial Newswire
"Hedge fund manager Man Group reported profit before tax of $541m in the year to end-March, down from $743m the prior year. FUM was $39.4bn at year end,

Diluted earnings per share were 24.8 cents (2009: 28.4 cents).

The regulatory capital surplus was $1.5bn and net cash balances were $1.7bn.

Man confirmed that it will recommend a final dividend of 24.8 cents per share, giving a total dividend of 44 cents per share for the year.

As announced on 17th May 2010, Man intends to rebase the dividend to a sustainable level, and to adopt a progressive dividend policy henceforward. It intends to recommend a total dividend of at least 22 cents per share for FY 2011.

Funds under management at end-March were $39.4bn (31st December 2009: $42.4bn; 31st March 2009: $46.8bn).

Funds under management at 27th May 2010 were broadly unchanged from end-March, with the FX impact of the weak Euro counterbalancing the effects of positive AHL performance.

Trading conditions for the managed futures style have improved, giving positive AHL performance for the calendar year to date. "

253p & hoping it can break through the 200 DMA & hold above it.

Also : 30/06/2010 MAN Group Plc (EMG) Ex-dividend (17.2p)

Wee punt this morning SB Long @ 253 tight stop 247 initial target 280.

Should be fine up to the divi date as yield is one of the best in the FTSE. Presumably you will close around that point CC?

That's the plan Harry, we'll see :o)

Weekly Net Asset Value(s)



TIDMEMG

RNS Number : 0649O
Man Group plc
22 June 2010

Man Group plc
22 June 2010


Man AHL Diversified Futures Ltd Weekly Net Asset Value

As at the close of business on 21 June 2010, the Net Asset Value of Man AHL
Diversified Futures Ltd was US$35.89

Track Record: From inception on 19 May 1998

+----------------------------------------+------------+
| | Key |
| | Statistics |
+----------------------------------------+------------+
| Last week | -0.44% |
+----------------------------------------+------------+
| Last 12 months (as at 31 May 2010) | -5.2% |
+----------------------------------------+------------+
| Annualised return since inception (as | +11.3% |
| at 31 May 2010) | |
+----------------------------------------+------------+