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 :-)) ?

I think Fridays AHL return has to be the largest negative figure I’ve seen since I started keeping records here, January 2011!

I seem to remember that the AHL high frequency trading platform doesn't perform particularly well in times of high volatility.

Nothing to be said in our LONG favour here, except perhaps the 800,000 cancelled shares for today(!), AHL taking another massive FUBAR, down -8.59% in the previous two days.

Morgan Stanley today reaffirms its equal weight investment rating on Man Group PLC (LON:EMG) and raised its price target to 223p (from 149p).

StockMarketWire.com
Wealth manager Man Group swung to an annual profit after it boosted net inflows into its funds.

The company posted a statutory pre-tax profit of $272m, compared to a $272m loss in the previous year.

Funds under management grew by up 35% to $109.1bn, while 33% growth in net revenue was buoyed by growth in performance fees.

The company declared a final dividend of 5.8c per share, bringing total dividend for the year to 10.8c, up from 9.0c in 2016.

Share buy-back program
Man Group plc's (the "Company") policy is to distribute available capital surpluses to shareholders over time, by way of higher dividend payments and/or share repurchases, while maintaining a prudent balance sheet, after taking into account required capital (including liabilities for future earn-out payments) and potential strategic opportunities.

In line with this policy and the Company's previous announcement on 12 April 2018, the Board today announces that it has agreed to enter into an irrevocable, non-discretionary arrangement with J. P. Morgan Securities plc to repurchase, on its behalf, ordinary shares in the Company up to a maximum consideration of $100 million (the "Programme") and subject to certain pre-set parameters, during the period from 16 April 2018 up to and including 30 April 2019 (the "Execution Period"), including during any closed or prohibited period of the Company which may fall during the Execution Period. The purpose of the Programme is to reduce the share capital of the Company (any shares repurchased for this purpose will be cancelled) and to enable the Company to meet obligations arising from employee share option programmes, or other allocations of shares to employees of the Company or to members of the administrative, management or supervisory bodies of the Company or an associate of the Company (any shares repurchased for this purpose will be held in treasury). The number of shares to be acquired is estimated to be around 37.5 million* based on the prevailing share price and Sterling to US Dollar exchange rate as at the date immediately prior to this announcement.

A proportion of shares purchased under the Programme will be held in treasury and the remaining shares will be cancelled.

Numis today reaffirms its hold investment rating on Man Group PLC (LON:EMG) and raised its price target to 175p (from 160p).

Shore Capital today reaffirms its buy investment rating on Man Group PLC (LON:EMG) and raised its price target to 186p (from 175.50p).

Jefferies International today upgrades its investment rating on Man Group PLC (LON:EMG) to buy (from hold) and raised its price target to 214p (from 192p).

StockMarketWire.com
Wealth manager Man Group reported Wednesday an 18% jump in first-half profits after net inflows, funds under management grew modestly.

For the six months to 30 June, statutory pre-tax profit rose 18% to $90m from $76m a year earlier, funds under management grew by 4% to $113.7bn, while 5.4% growth in net revenue was supported by growth in performance fees.

Net inflows rose to $8.3bn from $8.2bn the previous year.

Funds under management growth were limited by negative investment movement of $1.7bn and an FX headwind of $2.0bn as the US dollar strengthened against most major currencies.

Adjusted profit before tax increased by 5% to $153m compared to first half of 2017, primarily driven by higher management fee revenue partially offset by lower investment gains.

The subdued funds under management and adjusted profit growth was attributed to a difficult market backdrop, adverse currency movements and rate movements.

'I'm pleased to report record net inflows of $8.3 billion, and a 26% increase in management fee profits. However, given the difficult market backdrop and weaker performance in the first half, FUM and adjusted profit growth were more limited,' said Luke Ellis, Chief Executive Officer of Man Group.

Third-quarter flows are expected be impacted by a $2.2bn redemption but that would not have a material impact of the group's management fees, the company said.

The company declared a final dividend of 6.4c per share, up from 5.0c last year.

Declared a "final" at the "interims" - really???

"Interim dividend of 6.4 cents per share (H1 2017: 5.0 cents per share), to be paid at a rate of 4.88 pence per share on 5 September 2018"

Even StockmarketWire make mistakes!

Numis today reaffirms its hold investment rating on Man Group PLC (LON:EMG) and raised its price target to 185p (from 175p). There remain many short to medium-term uncertainties at Man, including inconsistent performance/performance fees, volatile flows and significant fee margin pressure. We think the short to medium-term outlook for the current business is for modest growth, in terms of the direction of management fee profits. Upside could come from the surplus capital (c.11p/share currently plus the extent of future performance fee profits), which could be distributed and/or used for M&A (provided it is value accretive). We think M&A is more likely than capital returns.

SCHEME OF ARRANGEMENT
Man Group Plc has announced that it is proposing to adjust their international governance and corporate structure. In order to implement this change Man Group plc is proposing to incorporate a new Group holding company in Jersey (New Holdco).
The proposed holding company structure, which is subject to Shareholder approvals, would be implemented by means of a Court approved scheme of arrangement under the Companies Act 2006. Pursuant to the Scheme, Shareholders would exchange their existing Ordinary Shares in Man Group plc for Shares in New Holdco on a one-for-one basis and Man Group plc would remain the head of the FCA-supervised regulatory group (a subgroup of New Holdco). Other current subsidiaries of Man Group plc that operate in the US and Asia would be reorganised under New Holdco and will continue to be regulated by their local regulators. Necessary approvals will be sought from regulators, including the FCA. Should any regulatory capital efficiencies be achieved as a result of the reorganisation, the benefits would be considered in the same way as other capital surpluses.
Further information may follow in due course.