Man Group hedge fund raises $2.3bn

Hedge fund manager Man Group has raised over $2.3 billion of client money for its new hedge fund product.

The figure is significantly more than the $2 billion the company had previously estimated it would receive, signaling that investor enthusiasm for the hedge fund industry shows no sign of abating.

Reacting to the news, Stanley Fink, chief executive of Man Group, said that he was not surprised by the huge interest in the new hedge fund.

"This is by far the largest global private client launch of a hedge fund product ever done, and the strong demand follows the product's return for investors of more than 300 per cent over nearly a decade," he said.

However, he admitted that the size of the investment in the fund was greater than the company had anticipated.

"It is a significant milestone for Man Investments and for the hedge fund industry as a whole which we have achieved by leveraging our global relationships and maximizing our resources across the whole business, exceeding our own best expectations in the process," he added.

Man Group provides alternative investment products and solutions and is also one of world's largest futures brokers.

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