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Swiss franc move helps Man Group's computer-driven hedge funds gain

Reuters - UK Focus

LONDON, Jan 23 (Reuters) - Man Group (LSE: EMG.L - news) 's computer-driven hedge funds gained up to 5.7 percent through mid-January, party benefiting from the Swiss National Bank's move to get rid of a cap on the franc that sent the Swiss currency soaring last week.

Man (Swiss: MAN.SW - news) 's $4.4 billion AHL Diversified fund gained 4.5 percent through Jan. 16 this year, while the $4 billion AHL Evolution fund returned 5.7 percent, according to fund performance data seen by Reuters.

The $2.8 billion AHL Alpha fund advanced 2.9 percent, while the AHL Currency fund, which gained 58 percent in 2014, added another 4 percent to its returns.

Man Group spokeswoman Rosanna Konarzewski declined to comment.

Man Group is the world's biggest listed hedge fund firm with $72.3 billion in assets at the end of September last year. (Reporting by Nishant Kumar; Editing by Steve Slater)