Man Group boosts computer-driven hedge fund offerings

LONDON, April 21 (Reuters) - Man Group (LSE: EMG.L - news) has expanded the range of computer-driven AHL funds, boosting its product offering in an unit that helped the world's biggest listed hedge fund firm post its highest profit in five years in 2014.

The firm manages nearly $73 billion in assets and unveiled four new products on Tuesday offering investors access to strategies such as price swings in securities and systematic exposure to equities, bonds, inflation-linked assets and credit.

The AHL funds recorded one of the best returns in the $3 trillion industry last year, with the $4.7 billion AHL Diversified gaining 32 percent and the $4.5 billion AHL Evolution fund returning 20 percent, data seen by Reuters showed.

The Evolution fund is closed to new investors and the new products create additional fundraising capacity for the firm.

The four funds have so far raised about $300 million, a source with direct knowledge of the matter said.

MAN reported an adjusted pretax profit of $481 million for 2014, a 62 percent jump from 2013. (Reporting by Nishant Kumar; Editing by Mark Potter)