Man Group's $3.4 Billion Evolution Hedge Fund Gains 18% in 2017
(Bloomberg) -- Man Group Plc's AHL Evolution fund gained about 18 percent in 2017, giving the computer-driven hedge fund its best yearly increase since 2014.
The $3.4 billion fund, which uses algorithms to invest in less liquid markets that generally aren't traded by other trend followers, rose by 6.2 percent in 2016, according to data on the investment firm's website. The SG Trend Index, which tracks returns for 10 trend-following funds, climbed 1.9 percent in 2017.
A Man Group spokeswoman declined to comment.
The world's largest publicly traded hedge-fund firm also reported increases in its strategies using machine learning algorithms -- Dimension, Alpha and Diversified -- which have a combined $12.8 billion in assets.
| Fund | AUM* | 2017 Return | 2016 Return |
|---|---|---|---|
| AHL Evolution | 3.4 | 17.9 | 6.2 |
| AHL Alpha | 4.0 | 5.3 | -3.0 |
| AHL Diversified | 3.1 | 5 | -7.6 |
| AHL Dimension | 5.7 | 3.9 | -1.5 |
| SG Trend Index | 1.9 | -6.1 |
* In billions of U.S. dollars as of end of September
Source: Company report, website
To contact the reporter on this story: Nishant Kumar in London at nkumar173@bloomberg.net.
To contact the editors responsible for this story: Neil Callanan at ncallanan@bloomberg.net, Ross Larsen, Andrew Blackman
©2018 Bloomberg L.P.
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