ED&F Man-Billions, and Counting
After 15 years in the alternative investment business, ED&F Man Investment Products Ltd. had surpassed $2 billion under management by late February - a goal that only a couple distinguished CTAs have reached. This total includes $1 billion in assets managed under the AHL (Adam, Harding & Lueck) programs.
On May 4, ED&F Man will continue its effort to raise assets by launching the Man IP 360 fund. It consists of three programs, which the investor will receive equal exposure to. The three programs include AHL Diversified Program, ED&F Man's traditional diversified trading system; the Man Glenwood fund, a fund of funds; and the Mint Relative Value Fund, a fund that mainly takes long and short positions in U.S. equities. For every $100 the guaranteed fund investor invests, he will receive $180 in investment exposure.
Ironically, while ED&F Man's assets are soaring, David Harding, who was one of the founding principals of AHL and left ED&F Man in August 1996, has formed his own Londonbased CTA, Winton Capital Management, which began trading in October 1997. …