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 :-)) ?

The hedge fund manager which sponsors the Booker Prize is facing a major revolt from investors this week over changes to bonus targets for top executives.

http://news.sky.com/story/1478186/booker-prize-sponsor-faces-investor-revolt

Pulled the plug on this one for now whilst in good profit.

They seem to grow the Company by acquisition rather than by internal development, which may slowly dilute value in the longer term - I am not so bullish as I once was with this one. Plus the pension tax changes etc will still have a fund withdrawal pull, over the next year or so I believe. Should be better value to be had in none hedge funds just now ? e.g Aberdeen, Polar, etc

Hmmm....strong bounce from the 200 DMA needed. Yield still pretty decent so am not going to jump ship yet.

Could be long wait harry, if it hits below 140 might get back in.,.

I don't want to put you off, but if it hits the 200 SMA - I may well buy! :-)

And I'll be racing you skinners :0)

Well the last two posts should force a few more sellers! :-)

Yep, if I have got some spare cash so will I. Not sure how well the AHL fund is getting on, so that may be dragging on the sp.

Alright there lads, keeping up the good work I see, he who lives the longest will see the most here!

Nice chart.,.

Only if your 'SHORT'!

Good to see my old friend - "thegrimreaper" back - although I sold out Man shares

StockMarketWire.com
Man Group's funds under management rose by 7% to $78.1bn in the three months to the end of March - up from $72.9bn at the end of December.

The group also announced that Jon Aisbitt intends to step down as chairman and as a director in May 2016 at the company's annual general meeting. A committee of the board, led by the senior independent director, Phillip Colebatch, will identify his successor.

The group said current FUM is estimated at $82.0bn including $2.4bn related to the acquisitions of NewSmith and BAML fund of funds.

Chief executive Manny Roman said: "We had a good start to the year from a performance perspective which, together with the latest acquisitions, contributed to an overall 7% increase in FUM over the quarter. AHL's traditional momentum strategies had a strong first quarter and continue to perform well on a relative basis, returns have improved across GLG's range of strategies and Numeric's strategies continue to outperform their respective benchmarks. We are pleased to have completed the Silvermine, NewSmith and BAML fund of funds acquisitions which help to broaden our product offering and US footprint.

"Our flows in Q1 reflect a natural lag between better investment performance and higher sales. As we have commented previously, our business is now more institutional in nature, with larger individual mandates causing greater variation in flows on a quarterly basis.

"We retain a degree of caution on the outlook for first half flows. As ever, the outlook for the rest of the year will likely depend on performance. Whilst we have a reasonable pipeline of sales, in particular in our quant businesses, recent market volatility reminds us of the uncertain macro environment in which we operate and its potential impact on demand for our products."

Barclays note:
"A weaker than expected Q1 trading update: Man’s Q1 trading update disappointed on the size of outflows at -$1.3bn for the quarter vs Barclays expectation of +$0.5bn. This is the first quarterly outflow following six consecutive quarters of inflows. Inflows into AHL in Q1 reflected its good performance in that period but outflows are much larger than expected at GLG’s long-only range and from FRM. The weakness on flows causes AUM at end of March to come in 2% light at $78.1bn. Flagship AHL Diversified fund enjoyed strong Q1 performance (+8.3%) but in April/May to date, along with CTA peers, has reversed this by 6.7%. Management asserts that the strategy continues to outperform on a relative basis vs peers but it is being affected by increased macro volatility causing concerns for future flows in this area. We cut our flow assumptions for FY15 to +$0.2bn, as well as our performance fees revenues. This causes a 4% cut to management fee EPS for FY15 and 6% for FY16.
We lower our target price to 195p, reflecting these cuts, and reiterate our Equal Weight rating.
Q1 outflows surprise at -$1.3bn: This was a miss vs Barclays forecast of +$0.5bn. Management has consistently downplayed expectations for a flow recovery and remains cautious in this statement. They continue to caution that as flows are now more institutional in nature due to client mix shift, quarterly flows will be lumpier due to larger mandates. In addition there will be a lag between performance recovery (e.g. at AHL) and flow resurgence. In the mix, Q1 net outflows were driven by -$0.9bn out of GLG long-only and a further -$0.6bn out of GLG alternatives, -$0.6bn from FoFs (FRM) and -$0.2bn out of the guaranteed products. This more than offset the $1.0bn inflows into AHL/Numeric quant strategies. We were surprised to see the inflows from GLG long-only despite good fund performance from its Japan core alpha product. Management updates that at the start of May, with the acquisitions of NewSmith/BAML FoFs completing in Q2, AUM is $82bn.
4%-7% cut to mgt fee EPS: We adjust our forecasts for the detail in the IMS as well as the performance data for AHL in Apr/May. This causes a large 13% cut to total EPS for 2015 and 7% for 2016 to 18.3c and 20.7c respectively However, the cut to the mgt fee only EPS (due to lower projected asset base) is more mild at -4% for 2015E to 11.1c."

Citigroup reiterates neutral on Man Group, target cut from 230p to 200p.

Numis Sell 182.20 177.70 90.00 90.00 Reiterates

What do you reckon skinny? Zero declared short interest. Maybe investors are keen to take profit having had a really good ride. I still think this is a well run company with a good yield, but maybe worth waiting a while for the next divi declaration, sometime in July.

Harry - I'm certainly in no rush here and will be waiting until the next update - I'm looking to add to some of my infrastructure plays - and am toying with buying back into GLIF - although I'm unsure as to their ability to maintain the current yield until their business changes become clearer.

GLIF is AIM which is a bit worrying for a large investment for the yield. Have you ever looked at MXF? I see you like PEW as well which is only just starting to pay a divi.