24th Mar 2005 16:45
Man Alternative Investments Ld24 March 2005 Man Alternative Investments Limited February 2005 Investment Objective Generate strong and consistent capital growth over the long-term in sterlingterms with low volatility by allocating assets to managers who trade indiversified markets implementing a broad range of fundamental, technical,systematic and discretionary strategies. Track Record: From inception on 24 May 2001 to 28 February 2005 ------------------------ Key Statistics ---------------------------------------- ---------Total Return -15.5% Last Month 0.8%Last Quarter 2.1%Last 12 Months 5.2%Year to Date 0.8%---------------- ---------NAV per Share GBP 0.8446Total NAV GBP 27,870,955 No. of Shares 33,000,000---------------- --------- The Glenwood Portfolio registered a gain in February. US stock indicesgenerally rose as fears surrounding interest rate rises by the US FederalReserve eased. The event driven category posted solid gains, while furtherprofits were produced by the variable equity, equity hedge, multi-strategy andcommodity & trading styles. Meanwhile the relative value category posted aclose to flat return. In the event driven style, distressed managers generatedgains after company-specific events proved profitable, with several managersbenefiting from progress in Enron's emergence from bankruptcy. Furtherfavourable returns resulted from the risk arbitrage component as merger activityremained active, with competing bids from Verizon Communications and QwestCommunications for MCI. European focused managers captured profits in thevariable equity style amid buoyant European equity markets. Profits in theequity hedge category were driven by exposure to the energy, industrials, basicmaterials and power sectors, with additional gains generated by Japanese andAsian focused managers. In the multi-strategy style event situations, equitytrading and energy related managers all proved favourable, although poor resultsfrom convertible trading weighed on performance. A currency manager in thecommodity & trading style benefited from the weak US dollar, whilst managers inthe relative value category suffered from continued low levels of volatility inthe convertible bond market. Key Strategies Profit/Loss* Key Strategies Profit/Loss Commodity & Trading 0.05% Multi-Strategy 0.12%Equity Hedge 0.17% Relative Value -0.03%Event Driven 0.26% Variable Equity 0.23% This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MAIL.L