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Wed 18 Apr 2001 04:00 AM

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E D & F Man Investment Products becomes MIP

Investment management house, E D & F Man Investment Products, has changed its name to Man Investment Products (MIP), following the trend of its mother company

Investment management house, E D & F Man Investment Products, has changed its name to Man Investment Products (MIP). The transformation follows that of its parent company, who changed its name to Man Group plc in September last year. It is also mirrored by the Group brokerage division’s change of name from E D & F Man International to Man Financial. MIP further claims that following strong performance by many of its fund products, performance fees earned for the year ended 31 March 2001 will be substantially ahead of market expectations. Man Group will be announcing its preliminary results for this period on 31 May 2001.“This announcement highlights the ability of Man’s products to perform in a variety of market conditions,” said Stanley Fink, CEO of Man Group. “The Group has a wide range of alternative investment products, many of which have been able to deliver strong out-performance in volatile markets,” he added. He also said that the funds have particularly benefited from the major trends in currencies as well as the strength of bonds and weakness of equity markets generally.In March of this year, AHL, the Group’s largest manager, claims to have generated returns to investors of 10% in the month. Group funds under management as of 31 March 2001, were also estimated to be in excess of US $6.5 billion.“MIP is evolving, as is evidenced by our three most recent innovative fund launches,” said Antoine Massad, regional manager for Man Investment Products in the Middle East. “Man-Glenwood Select closed for subscriptions on 27 March 2001 having raised over US$ 220m, the largest launch of any MIP product,” he added.

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