EMG.L - Man Group plc

LSE - LSE Delayed price. Currency in GBp
163.15
+5.45 (+3.46%)
At close: 4:35PM BST
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Previous close157.70
Open160.00
Bid150.00 x 0
Ask0.00 x 0
Day's range159.85 - 163.15
52-week range124.15 - 183.65
Volume2,560,879
Avg. volume3,932,965
Market cap2.504B
Beta (3Y monthly)1.48
PE ratio (TTM)8.92
EPS (TTM)18.30
Earnings date25 Feb 2019 - 1 Mar 2019
Forward dividend & yield0.08 (4.91%)
Ex-dividend date2019-08-08
1y target est4.69
  • Reuters - UK Focus

    UPDATE 1-Schroders H1 pretax profit down 14% as outflows hit revenues

    British asset manager Schroders said pretax profits fell 14% in the first half, hit by weak markets at the start of the year and outflows of client cash. Net outflows over the period were 1.2 billion pounds, it said in a statement on Thursday. Weaker investor sentiment has been a feature of results from most of Schroders' peers, with Jupiter Fund Management, Amundi and Man Group among those to report outflows in recent days.

  • Here’s why this FTSE 250 income stock is on my retirement buy list
    Fool.co.uk

    Here’s why this FTSE 250 income stock is on my retirement buy list

    I'm looking for dividend stocks to buy for my pension in August, and this FTSE 250 (INDEXFTSE: MCX) winner could fit the bill.

  • The Perils of Fund Underperformance
    Bloomberg

    The Perils of Fund Underperformance

    (Bloomberg Opinion) -- Amundi SA, Europe’s biggest independent fund manager, saw customers withdraw money for a third consecutive quarter in the three months through June. It’s far from the only asset manager suffering outflows. And as the drumbeat of reports and research questioning portfolio managers’ claims to beat the market grows ever louder, the reluctance of clients to commit funds is completely rational.Halfway through the 36 pages of slides Amundi published along with its results on Wednesday is a data set entitled “Solid Performances.” There is another – less Panglossian – way of reading the numbers. One of the slides purports to argue that 64% of the firm’s fixed income assets and 59% of its equity holdings outperformed their relevant benchmarks in the first half of this year. I’d argue that customers should read those figures the other way around; that more than a third of Amundi’s bond bets and almost half of its stock picks fared no better than their respective indexes.Similar skepticism is justified with respect to how Amundi’s performance ranks against that of its peers. On a five-year basis, for example, the firm highlights that 75% of its funds ranked in the top two quartiles for performance as measured by research firm Morningstar. Or, alternatively, the figures show that a quarter of its funds languished in the bottom half – hardly a terrible performance, but still suggesting a one-in-four chance that you’d have been better off buying an index tracker.On a shorter timescale, its performance has become even less impressive, depending how you look at it. On a one-year horizon, almost a third of Amundi’s funds were in the bottom two quartiles.And all of these figures are calculated before fees. Having a 69% chance of beating the benchmark over the course of a year, depending which Amundi fund you chose, doesn’t seem like disastrous odds – until you include those fees, which erode your returns.None of this is to single out Amundi for criticism. The entire fund management industry uses similar marketing methods, and arguably the French firm’s five-year performance is still impressive. But it is far from the only asset manager to suffer outflows. Janus Henderson Group Plc said on Wednesday that it suffered a seventh consecutive quarter of withdrawals in the second quarter, while Man Group Plc, the world’s biggest publicly traded hedge fund, saw net outflows of $1.1 billion in the first half of this year.The European asset management industry in general has seen “virtually zero net inflows” so far this year “given the persistent wait-and-see approach from savers and investors resulting from strong risk aversion,” Amundi says.I’d add a caveat to that. As more customers question the value that active managers claim to be able to add to investment strategies, the industry faces an existential crisis. Even if surging markets restore investor faith in the outlook, low-cost index-tracking funds will capture more of their money.At least Amundi has a hedge against that trend; its passive business attracted almost 7 billion euros ($7.8 billion) of assets in the first half of the year, growing assets under management in exchange-traded and smart beta funds to 114 billion euros. For fund managers that don’t offer those products, the future looks increasingly bleak.To contact the author of this story: Mark Gilbert at magilbert@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mark Gilbert is a Bloomberg Opinion columnist covering asset management. He previously was the London bureau chief for Bloomberg News. He is also the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Quant Funds Lift Man Group Despite $1.1 Billion of Withdrawals
    Bloomberg

    Quant Funds Lift Man Group Despite $1.1 Billion of Withdrawals

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Man Group Plc’s computer-driven funds are boosting earnings prospects for the world’s biggest publicly traded hedge fund even as the firm reported its first outflows for a six-month period since 2015.About 90% of Man AHL strategies, which use complex algorithms to trade, were at the “high water mark,” a level that allows funds to charge performance fee, according to a company statement on Wednesday. Man Group shares rose as much as 4.6% in London trading.“We think there is potential for Man Group to report performance fees well in excess of what is currently baked into consensus forecasts,” according to Paul McGinnis, an analyst at Shore Capital, referring to the quant funds.Investors pulled $1.1 billion in the first half of the year, more than the average forecast of $1 billion of outflows, according to a company-compiled analyst consensus. Man Group’s assets under management rose to $114.4 billion from $112.3 billion at the end of March, driven by market performance, the company said in the statement.Until this year, Man Group, best known for these tech-centric investment strategies, had escaped the investor backlash against fund managers. The firm took in almost $25 billion since the start of 2015 thanks to its diversified range of funds and acquisition of competitors such as Numeric and Silvermine.The first-half withdrawals were mainly concentrated in its long-only money pools, whereas the firm’s computer-driven funds performed well. It’s main $6.1 billion AHL Dimension fund was up 5.2%, while its AHL Diversified Fund surged 8.2%, up from a gain of 2.9% and a loss of 3.5% respectively in 2018. Competitors gained an average of about 4% during the period, up from losses of 4% last year, according to data from Eurekahedge.Profit UpAdjusted pretax profit rose 3% to $157 million from a year earlier. That beat the $138 million average analyst estimate compiled by the company.“We enter the second half of 2019 with good performance fee earning potential with 90% of Man AHL strategies at high water mark,” Chief Executive Luke Ellis said in the statement. “The diversified nature of our business means that we remain well positioned to navigate the current economic environment.”Investors pulled $44.6 billion from hedge funds in the first half of the year, already exceeding total outflows in all of 2018, according to data compiled by eVestment. Funds betting on stocks as well as broad macro trends have suffered the most.Man Group was founded in 1783 by James Man as a barrel maker-cum-brokerage on Harp Lane, about 500 meters from its current office along the Thames in London. Over the next two centuries, it supplied rum to the Royal Navy and traded commodities such as coffee and sugar before eventually focusing exclusively on financial services. In 1989, Man Group began acquiring a computer-driven trading shop called AHL and later acquired its discretionary investment unit GLG.Under Ellis, who took over as chief executive in 2016, the firm has added more than $30 billion in assets, accelerated the use of artificial intelligence to make money and expanded investments into real estate to shield the firm from volatile flows that have troubled the $3 trillion industry because of years of mediocre returns.To contact the reporter on this story: Nishant Kumar in London at nkumar173@bloomberg.netTo contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, James HertlingFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Computers boost Man Group first-half assets, shares up

    British hedge fund manager Man Group  said assets rose 5% in the first half of the year, helped by performance in its computer-driven strategies, boosting fee income and sending its shares higher. Weaker equity investor sentiment prompted clients to withdraw cash from its funds, however, a trend seen at rival money managers including France-based Amundi and UK-based Jupiter Fund Management . Man Group, the world's largest listed hedge fund, said assets under management at the end of June were $114.4 billion (£94.1 billion), up from $108.5 billion at the end of December and $112.3 billion at the end of March.

  • GAM Turns a Corner. But Will It Head off the Public Highway?
    Bloomberg

    GAM Turns a Corner. But Will It Head off the Public Highway?

    (Bloomberg Opinion) -- Beleaguered Swiss fund manager GAM Holding AG finally has some good news to report that should allow it to draw a line under a terrible year. That could be the catalyst for a buyer deciding the brand is salvageable – while there’s still enough of the business left to buy.On Tuesday, GAM said it had reached a truce with Tim Haywood, the star fund manager it suspended a year ago and subsequently accused of gross misconduct. Each has agreed that “neither party will pursue the other,” with the caveat that the truce is “based on current facts.” Even though Haywood countered by saying he dropped his suit for unfair dismissal because the cost of pursuing it would outstrip any damages, the accord should remove the threat of future litigation and any dirty linen being aired in a courtroom.Customers who were trapped in Haywood’s Absolute Return Bond Funds when GAM froze them a year ago are receiving the last of their money back. On average, they will get 100.5% of the net asset value of their holdings compared with their valuation when GAM halted withdrawals and began liquidating the fund. That should deter the regulators, who have been silent on the matter, from punishing the firm for any lack of oversight. Apart from the eight-month delay between a whistle-blower informing on Haywood and his suspension, GAM appears to have done all it could to safeguard the money entrusted to it.Finally, the eight-month search for a new permanent leader is over with the appointment of BlackRock Inc. veteran Peter Sanderson as chief executive officer. He will start in September, with interim CEO David Jacob taking the role of chairman a month later.So that’s the good news. The bad news is that the business is still in intensive care after a disastrous year. Tuesday’s bump in the share price still leaves it down more than 60% in the past year.Profitability is as underwhelming, with underlying pretax income dropping to 2.1 million Swiss francs ($2.1 million) in the first half of 2019 from 91.3 million francs in the first six months of last year.Net outflows of 7.6 billion francs in the first half overshadowed 3.6 billion francs of market gains, cutting the assets overseen by the investment management division to 52.1 billion francs from 56.1 billion francs at the end of last year. That in turn trashed net fee and commission income, which dwindled to 171.1 million francs from 287.7 million francs in the year-earlier period.To be fair, GAM isn’t alone in struggling to hang on to cash. Jupiter Fund Management Plc announced its sixth consecutive quarter of net outflows on Tuesday, while Man Group Plc saw customers pulling money out in the first three months of the year.But the Swiss firm reckons it saw an “improving flow trend” in June and July with net inflows. That should give shareholders some hope that the worst is now behind it. Moreover, GAM has managed to defend its management fee margin, keeping it almost unchanged from December at just below 54 basis points.In the absence of a buyer, the new CEO is left with the same to-do list facing the head of every other medium-sized asset manager: Cutting costs where possible, trying to halt the erosion in fees, and praying that the market environment remains friendly enough to bolster performance and bring in performance fees and client cash.But as I suggested earlier this month, GAM’s best future may lie in finding a private equity buyer to take it off the market and let it rehabilitate its credibility with customers away from the glare of quarterly public reporting. Sanderson may have other plans; but unless he can do more for the stock price than Tuesday’s pop of about 4% by late morning, shareholders may be better served by him dressing up the company for a sale.To contact the author of this story: Mark Gilbert at magilbert@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mark Gilbert is a Bloomberg Opinion columnist covering asset management. He previously was the London bureau chief for Bloomberg News. He is also the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Globe Newswire

    Man Group PLC : Form 8.3 - IFG Group plc

    Ap19FORM 8.3IRISH TAKEOVER PANELDISCLOSURE UNDER RULE 8.3 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013DEALINGS BY PERSONS WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE 1. KEY INFORMATIONName of person dealing (Note 1)Man Group PLC Company dealt inIFG GROUP PLC Class of relevant security to which the dealings being disclosed relate (Note 2)€0.12 ordinary shares Date of dealing2019-06-05 1. INTERESTS AND SHORT POSITIONS   2. Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3) LongShort  Number (%)Number (%) (1) Relevant securities0.000.000.000.00 (2) Derivatives (other than options)2,233,851.002.11930.000.00 (3) Options and agreements to purchase/sell0.000.000.000.00 Total2,233,851.002.11930.000.00 1. Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)Class of relevant security:LongShort  Number (%)Number (%) (1) Relevant securities     (2) Derivatives (other than options)     (3) Options and agreements to purchase/sell   Total   Ap20 1. DEALINGS (Note 4)   2. Purchases and sales  Purchase/sale  Number of relevant securities  Price per unit (Note 5)     1. Derivatives transactions (other than options transactions)Product name, e.g. CFDNature of transaction (Note 6)Number of relevant securities (Note 7)Price per unit (Note 5) CFDIncreasing a long position2,6541.8900 CFDIncreasing a long position7571.8900 CFDIncreasing a long position3,7461.8900 CFDIncreasing a long position5541.8900 CFDIncreasing a long position7081.8900 CFDIncreasing a long position1,3371.8900 CFDIncreasing a long position2441.8900 1. Options transactions in respect of existing relevant securities 1. Writing, selling, purchasing or varyingProduct name, e.g. call optionWriting, selling, purchasing, varying etc.Number of securities to which the option relates (Note 7)Exercise priceType, e.g. American, European etc.Expiry dateOption money paid/received per unit (Note 5)         1. ExercisingProduct name, e.g. call optionNumber of securitiesExercise price per unit (Note 5)     1. Other dealings (including transactions in respect of new securities) (Note 4)Nature of transaction (Note 8)DetailsPrice per unit (if applicable) (Note 5)     Ap212.       OTHER INFORMATIONAgreements, arrangements or understandings relating to options or derivativesFull details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated.Is a Supplemental Form 8 attached? (Note 9)                                            YES/NODate of disclosure2019-06-06 Contact nameMatthew Irwin Telephone number+442071447255 If a connected EFM, name of offeree/offeror with which connected  If a connected EFM, state nature of connection (Note 10)

  • Globe Newswire

    Man Group PLC : Form 8.3 - Inmarsat plc

    FORM 8.3PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”)1.         KEY INFORMATION(a) Full name of discloser:Man Group PLC (b) Owner or controller of interests and short positions disclosed, if different from 1(a):   The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.  (c) Name of offeror/offeree in relation to whose relevant securities this form relates:   Use a separate form for each offeror/offereeINMARSAT PLC (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  (e) Date position held/dealing undertaken:   For an opening position disclosure, state the latest practicable date prior to the disclosure31/05/2019 (f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?   If it is a cash offer or possible cash offer, state “N/A”YES / NO / N/A If YES, specify which: Please fill in manually 2.         POSITIONS OF THE PERSON MAKING THE DISCLOSUREIf there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)Class of relevant security:  EUR 0.0005 ordinary    InterestsShort positions Number%Number% (1) Relevant securities owned and/or controlled:0000 (2) Cash-settled derivatives:  5,015,074  1.081800 (3) Stock-settled derivatives (including options) and agreements to purchase/sell:0000     TOTAL:5,015,074  1.081800 All interests and all short positions should be disclosed.Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).(b)        Rights to subscribe for new securities (including directors’ and other employee options)Class of relevant security in relation to which subscription right exists:  Details, including nature of the rights concerned and relevant percentages:  3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSUREWhere there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.The currency of all prices and other monetary amounts should be stated.(a)        Purchases and salesClass of relevant securityPurchase/sale  Number of securitiesPrice per unit        (b)        Cash-settled derivative transactionsClass of relevant securityProduct description e.g. CFDNature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unit EUR 0.0005 ordinary  CFDOpening a long position107,7955.4720 EUR 0.0005 ordinary  CFDOpening a long position216,1675.4740 EUR 0.0005 ordinary  CFDOpening a long position25,3005.4720 EUR 0.0005 ordinary  CFDOpening a long position50,7385.4740 (c)        Stock-settled derivative transactions (including options)(i)         Writing, selling, purchasing or varyingClass of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitType e.g. American, European etc.Expiry dateOption money paid/ received per unit          (ii)        ExerciseClass of relevant securityProduct description e.g. call optionExercising/ exercised againstNumber of securitiesExercise price per unit         (d)        Other dealings (including subscribing for new securities)Class of relevant securityNature of dealing e.g. subscription, conversionDetailsPrice per unit (if applicable)        4.         OTHER INFORMATION(a)        Indemnity and other dealing arrangementsDetails of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state “none”       (b)        Agreements, arrangements or understandings relating to options or derivativesDetails of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i)  the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none”       (c)        AttachmentsIs a Supplemental Form 8 (Open Positions) attached?YES/NO Date of disclosure:03/06/2019 Contact name:Matthew Irwin Telephone number:+442071447255 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

  • Globe Newswire

    Man Group PLC : Form 8.3 - Independent News & Media plc

    Ap19FORM 8.3IRISH TAKEOVER PANELDISCLOSURE UNDER RULE 8.3 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013DEALINGS BY PERSONS WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE 1. KEY INFORMATIONName of person dealing (Note 1)Man Group PLC Company dealt inINDEPENDENT NEWS & MEDIA PLC Class of relevant security to which the dealings being disclosed relate (Note 2)€0.01 ordinary shares Date of dealing2019-05-31 1. INTERESTS AND SHORT POSITIONS   2. Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3) LongShort  Number (%)Number (%) (1) Relevant securities0.000.000.000.00 (2) Derivatives (other than options)26,640,896.001.92140.000.00 (3) Options and agreements to purchase/sell0.000.000.000.00 Total26,640,896.001.92140.000.00 1. Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)Class of relevant security:LongShort  Number (%)Number (%) (1) Relevant securities     (2) Derivatives (other than options)     (3) Options and agreements to purchase/sell   Total   Ap20 1. DEALINGS (Note 4)   2. Purchases and sales  Purchase/sale  Number of relevant securities  Price per unit (Note 5)     1. Derivatives transactions (other than options transactions)Product name, e.g. CFDNature of transaction (Note 6)Number of relevant securities (Note 7)Price per unit (Note 5) CFDIncreasing a long position2,253,9780.1025 CFDIncreasing a long position643,7970.1025 CFDIncreasing a long position3,180,5750.1025 CFDIncreasing a long position470,7540.1025 CFDIncreasing a long position602,1290.1025 CFDIncreasing a long position1,138,9790.1025 CFDIncreasing a long position209,7880.1025 1. Options transactions in respect of existing relevant securities 1. Writing, selling, purchasing or varyingProduct name, e.g. call optionWriting, selling, purchasing, varying etc.Number of securities to which the option relates (Note 7)Exercise priceType, e.g. American, European etc.Expiry dateOption money paid/received per unit (Note 5)         1. ExercisingProduct name, e.g. call optionNumber of securitiesExercise price per unit (Note 5)     1. Other dealings (including transactions in respect of new securities) (Note 4)Nature of transaction (Note 8)DetailsPrice per unit (if applicable) (Note 5)     Ap212.       OTHER INFORMATIONAgreements, arrangements or understandings relating to options or derivativesFull details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated.Is a Supplemental Form 8 attached? (Note 9)                                            YES/NODate of disclosure2019-06-03 Contact nameMatthew Irwin Telephone number+442071447255 If a connected EFM, name of offeree/offeror with which connected  If a connected EFM, state nature of connection (Note 10)

  • Reuters - UK Focus

    BUZZ-Man Group: 'A misunderstood Man' - Berenberg

    ** Berenberg initiates Man Group with "buy" rating and 35% upside to target price of 206p ** "Freed from the earnings drag created by run-off of legacy products," broker believes co ...

  • Hedge Fund Giant Is Trapped on the Naughty Step
    Bloomberg

    Hedge Fund Giant Is Trapped on the Naughty Step

    Hedge funds, though, remain the industry’s problem child – hence the relative underperformance of Man Group Plc, the world’s biggest publicly traded hedge fund. The firm’s traders took advantage of rallying markets to deliver positive investment performance worth $4.5 billion in the quarter, driving a modest 3.5 percent gain in assets under management to $112.3 billion. Last month, Man cut its goal to increase assets under management each year to between 1 percent and 6 percent from as much as 10 percent previously “to better reflect industry trends and the market environment.” So the company has conceded that it’s unlikely to revisit the 2018 inflows that were equal to 9.9 percent of assets, never mind the record 15.8 percent growth in 2017.

  • Reuters

    Market gains push Man Group assets up 3.5 percent in first quarter

    LONDON (Reuters) - British hedge fund firm Man Group said on Thursday that investment gains pushed its funds under management up to $112.3 billion (£85.8 billion) in the first quarter from $108.5 billion ...

  • Globe Newswire

    Man Group PLC : Form 8.3 - Taptica International Ltd

    FORM 8.3PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”)1.         KEY INFORMATION(a) Full name of discloser:Man Group Plc (b) Owner or controller of interests and short positions disclosed, if different from 1(a):   N/A (c) Name of offeror/offeree in relation to whose relevant securities this form relates:   Taptica International Ltd (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:N/A (e) Date position held/dealing undertaken:   01st March 2019 (f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?   YES / NO / N/A If YES, specify which: RhythmOne plc 2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)Class of relevant security:  NIS 0.01 ordinary    InterestsShort positions Number%Number% (1) Relevant securities owned and/or controlled:3,277,193  4.773700 (2) Cash-settled derivatives:  1,356,460  1.97590  0 (3) Stock-settled derivatives (including options) and agreements to purchase/sell:0000     TOTAL:4,633,653  6.74950  0 All interests and all short positions should be disclosed.Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).(b)        Rights to subscribe for new securities (including directors’ and other employee options)Class of relevant security in relation to which subscription right exists:  Details, including nature of the rights concerned and relevant percentages:  3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSUREWhere there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.The currency of all prices and other monetary amounts should be stated.(a)        Purchases and salesClass of relevant securityPurchase/sale  Number of securitiesPrice per unit NIS 0.01 ordinaryPurchase10,0001.6200 (b)        Cash-settled derivative transactionsClass of relevant securityProduct description e.g. CFDNature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unit (GBP) (c)        Stock-settled derivative transactions (including options)(i)         Writing, selling, purchasing or varyingClass of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitType e.g. American, European etc.Expiry dateOption money paid/ received per unit          (ii)        ExerciseClass of relevant securityProduct description e.g. call optionExercising/ exercised againstNumber of securitiesExercise price per unit         (d)        Other dealings (including subscribing for new securities)Class of relevant securityNature of dealing e.g. subscription, conversionDetailsPrice per unit (if applicable)      4.         OTHER INFORMATION(a)        Indemnity and other dealing arrangementsDetails of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state “none”   None   (b)        Agreements, arrangements or understandings relating to options or derivativesDetails of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i)  the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none”   None   (c)        AttachmentsIs a Supplemental Form 8 (Open Positions) attached?YES/NO  04th March 2019  Matthew Irwin    02071447255 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk.  The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

  • Reuters

    UK main index bounces back on WPP strength; Relx tumbles

    The FTSE 100 added 0.5 percent, as a steep fall in information and analytics provider Relx curbed gains in the index, while the FTSE 250 bounced 1.1 percent to levels not seen since early November. "I think the market is progressively anticipating a compromise (on Brexit) ... I remain optimistic regarding the pound and more domestic UK shares," Raymond James analyst Chris Bailey said. WPP, the world's biggest advertising company, jumped 5 percent on its best day in nearly a year after results showed that although underlying net sales fell 0.4 percent in 2018, it was better than a forecast of a 0.5 percent dip.

  • Hedge Fund Titan Can't Stop the Tears From Flowing
    Bloomberg

    Hedge Fund Titan Can't Stop the Tears From Flowing

    Net inflows of $10.8 billion last year were offset by $7.7 billion of investment losses by the firm’s portfolio manager, plus a further $3.7 billion erosion from currency market moves. Perhaps more worrying is the drop in margins in the hedge fund’s most lucrative business category, its absolute return strategy. While the decline can be blamed on a shift toward institutional assets, which typically attract lower levies, it still hurts Man’s ability to generate revenue.

  • Reuters

    British hedge fund Man Group's performance fees plunge as assets slip

    LONDON (Reuters) - British hedge fund manager Man Group said on Friday its assets under management slipped 0.5 percent to $108.5 billion (81.79 billion pounds) last year on market weakness and currency ...

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