London: Europe’s largest quoted hedge fund manager Man Group is looking to expand its presence in Asia, after a bumper recent fundraising in Japan underlined robust demand for its strategies across the cash-rich region.
“One of the things we plan to do is to expand our own investment management presence in the region... We’re very interested in being proximate to the market. You can expect us over time to be developing that,” chief executive Peter Clarke told a roundtable of journalists on Thursday.
“Maybe we’d want to be venturing with some established managers there. It’s highly fragnented out there. (But) our main focus is to grow organically in that region,” he said, pointing out that most Asian Pacific assets were being managed from North America and Europe instead of locally.
News of the Asian expansion plan comes less than two weeks after Man announced it had attracted $1.5 billion of capital for a fund domiciled in Japan, beating analyst expectations by three times in the aftermath of the 11 March earthquake and tsunami.
The computer driven global trend fund, which was raised in conjucntion with Japanese bank Nomura, was Man’s biggest fund launch since the financial crisis.