1st Sep 2015 08:09
LONDON (Alliance News) - Shares in hedge fund manager Man Group PLC were trading lower on Tuesday morning following a Bloomberg report on Monday which said the head of its China unit has been taken into custody to assist with a police probe into market volatility.
Li Yifei, the chair of Man Group's China arm, is understood to be assisting with a wider investigation into market volatility in China, meaning she is not facing any charges of wrongdoing.
She has led Man Group's China business since November 2011.
Man Group shares were down 6.1% to 151.30 pence on Tuesday morning, one of the worst performers in the FTSE 250.
By Sam Unsted; [email protected]; @SamUAtAlliance
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