Man Group assets rise thanks to bumper Japanese fund

Man Group, the world's largest listed hedge fund manager said it is continuing to attract net new money from investors in its hedge funds,while assets under management lifted three per cent to $71bn (£43.5bn) in the period to the end of March.

Earlier this month the firm said it had raised $1.5bn for an open-ended Japan fund, smashing analysts' forecast.

"Although the focus has shifted from (higher margin) guaranteed product launches, the environment for open-ended products offers encouragement that sales can remain healthy through the year," said Peel Hunt analyst Stuart Duncan in a note.