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 :-)) ?

Panmure Gordon comment today:
"AHL funds are returning much better investment performances this year than has been the case for several years which have been distorted by quantitative easing. Assuming that markets are gradually normalising we anticipate higher performance fees. AHL funds are delivering double digit returns and are exceeding their high water marks. Man has also acquired another $15.7bn (pro-forma) AUM, principally in
Numeric (completed in September), which is a significant addition to its quant offering.

We estimate performance fees for FY14 of $240m, implying $140m in the second half on top of the £101m in H1, versus $180m previously. Consensus currently is around $200m. On the back of this, we have revised our earnings estimates as follows: FY14 EPS 15.2c (from 14.0c) +9%, FY15 17.0c (from 14.5c) +17%, and FY16 18.0c (from 15c) +20%. We are now above the consensus EPS of 12c for FY14 and 15c for FY15.

The shares are trading on 10.9x FY15 December revised EPS and yield 4.6%.

We have lifted our price target to 145p from 125p previously to reflect the higher earnings and improved outlook for AHL. We have upgraded our recommendation to a Buy from Hold. They are due to report Q3 IMS on 16th October."

Liberum note last week:
"Man appear to be firmly on the road to recovery. We downgraded core EPS forecasts post the interim’s due to very cautious statements from management re. the outlook for inflows in H2’14, and also revenue margin pressure. Today’s statement shows better than expected performance re. inflows but post the analyst call we think the outlook for margins is probably a little softer still.

Net inflows for the quarter were better than feared at $0.4bn. When added to the $2.8bn of net inflows at the half year this takes the total for the 9M’14 to $3.2bn, which compares very favorably to our forecast of just $0.7bn for the full year. Inflows of $1bn from an Asia Pacific based institution into AHL helped to offset outflows at GLG.

Post the interim’s we downgraded the blended revenue margin from 1.50% to 1.40% in ’14, falling further to 1.25% in ’15 and 1.18% in ’16. This was in large part driven by a softening in management fees within Alternative Quant funds (AHL). In 2013 the margin was 2.83% and at H1’14 it fell to 2.39%. We had been forecasting a reduction to 2.33% for the full year, reducing further to 2.00% in ’15 and 1.80% in ’16. Management stated on the conference call that institutional mandates were priced at 1-2% and for larger mandates, like the Asia-Pac one referred to above this could be closer to 1%. Consequently, we think there is probably further margin pressure relative to our existing forecasts.

Following a $150m debt issuance on 16th Sept’14 (5.875%), the regulatory capital surplus now stands at $450m, before a planned for seeding programme of $75m. We expect performance fees to be used for further share buybacks.

Understandably, this appears to be a management team at pains to manage expectations well. Net inflow performance is ahead of expectations and while the outlook statement says it is mixed, we certainly anticipate a beat relative to our existing expectations. Conversely, revenue margin looks like it could be under a little more pressure. At this stage we think the net impact could be broadly neutral to our existing forecasts for Core EPS of 7.2 cents in ’14, rising to 8.5 cents in ’15. This leaves the stock trading on a Core PE of 24.7x, falling to 21.0x and yielding 4.0% rising to 4.8%. We maintain our TP of 120p."

Hedge Funds seem to be back in fashion!

Approaching 3 year high.

Nice to be on the right side of sp for a change.,.

Blimey - I haven't looked at these for a while - well done if you've held.

150p reached. A little bit overbought, maybe?

Despite the sell off this has held pretty steady. Looks oversold but has been hammered for a few years now, think I'll have a dabble long before the close.

Long on the spreads @ 149.69 tight stop.

Edit to post 819 should read overbought not oversold Dohhhh!

If it retraces any opinion of support level? Maybe 120p/125p?

Hopefully no lower Harry.

negative vibes......... just having a rest before next move up.,.

StockMarketWire.com
Man Group has entered into a conditional agreement to acquire Silvermine Capital Management, a Connecticut-based leveraged loan manager with $3.8bn of funds under management across nine active collateralised loan obligation structures as of 30 November.

The acquisition is expected to complete in the first quarter of 2015, subject to certain approvals being obtained. Silvermine is wholly-owned by the firm's founders and senior staff members and is based in Stamford, Connecticut.

The team of 17 focuses exclusively on managing US levered credit portfolios and, since inception in 2005, has executed 16 separate transactions totalling $6.7bn. Upon completion of the acquisition, Silvermine will be integrated into Man GLG and will operate under the Man GLG Silvermine name which will complement Man GLG's existing credit business.

Silvermine's team will remain in place under the leadership of two of the firm's founders, G. Steven Kalin and Richard F. Kurth, who will continue to work alongside the other co-founders Aaron Meyer and Jonathan Marks.

They seem to be trying to grow the business by acquisition of other businesses.
Not so much internal growth, only cost savings. / cut backs. Are they going to be affected by changes to pension drawdown after 4 April - could be some large net outflows.
I like Investment Companies generally but not sure this is the right time to buy into them - perhaps best to wait a long time for a better global situation.

Cazenove comment :
Man Group have this morning announced the acquisition of Silvermine Cap Management, which is a US based manager of CLO's (collateralised loan obligations) with AuM of $3.8bn at the end of Nov. The deal is relatively small but is in-line with the strategy for bolt on acquisitions
 Small bolt on acquisition. Silvermine Cap Management, is a US based manager of CLO's which consists of a team of 17 focusing exclusively on managing US levered credit portfolios since its inception in 2005. Group AuM stood at $3.8bn at the end of Nov and run rate management fees and PBT were $17m and $8m respectively, hence the PBT equates to around 1.5% of Man Group PBT. Implied management fee margins of around 45bps.
 Consideration includes upfront and earn out. The consideration will consist of an upfront $23.5m and 2 further earn-outs of upto $16.5m after 1 yr and upto $30m after 5 years, with the amounts dependent on the level of run rate management fees. The deal will increase the regulatory capital requirement by around $45m.
 Acquisition in-line with strategy. Overall, the acquisition is relatively small but complements the expansion into the US, with the deal providing access to Silvermine’s distribution channel through investment banks. The use of surplus capital for bolt on deals is also congruent with management's previous indications to consider appropriate acquisitions ahead of returning capital back to shareholders.

Stop to entry for risk free trade. Needs to get a wriggle on sharpish.

Sp doubled in the year. What a change of fortune for this company.

NEW YORK and LONDON, 20 January 2015 -- Man Group plc announced today that it has completed the previously announced acquisition of Silvermine Capital Management LLC.