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Man Group shares fall after firm caught up in market volatility probe

Reuters - UK Focus

LONDON, Sept 1 (Reuters) - Shares (Berlin: DI6.BE - news) in British hedge fund Man (Swiss: MAN.SW - news) Group fell as much as 2.9 percent in early deals on Tuesday, after the boss of its China unit was reported taken into custody as part of a probe into recent market volatility.

At 0706 GMT, shares in Man were trading at 156.5 pence a share, in a mid-cap index down 0.7 percent.

The share move followed the weekend news, reported by Bloomberg, that Man's China chairwoman, Li Yifei, was helping authorities looking for the cause of the sharp swings seen in the country's stock market in recent months. (Reporting by Simon Jessop; editing by Carolyn Cohn)