UK - Man Investments has raised a combined total of $705m (£389.8m) for its Man Global Strategies Diversified Series 2 and Close Man hedge funds.
The hedge fund specialist said it had raised $580m (£320.6m) for the Man Global Strategies Diversified Series 2 fund.
The fund of hedge funds will invest in a range of strategies – including arbitrage, directional and long/short equity – and allocations will be made to quantitative and qualitative third-party managers.
The fund aims to produce annualised returns of 12% to 14%, and is offered in US dollar, euro and Swiss franc capital bonds and US dollar and euro income bonds. Both bond classes offer a 100% capital guarantee, while the capital bonds have a profit lock feature.
Meanwhile, the firm has closed its Close Man Hedge Fund after raising over $125m (£69.2m) from investors. The fund has been designed for UK investors and aims to produce annualised returns of 13-15%.
Man chief executive Stanley Fink said: “There is strong demand for Man’s products that can add diversification and enhance the risk/return profile of investors’ existing portfolios.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.