Shares in fund management group Man Group Plc [LON:EMG] were trading at 210 pence Wednesday morning, well off recent highs which saw the market pushing the stock towards the 300p mark. However, the company does look in rude held, and just based on the PE pretty cheap.
Twenty years ago, when I was working within an investment banking / fund management operation, we competed against Man in the field of structured products based on multi-fund portfolios. The operation I was working for has gone the way of history, but Man continues to be regarded as one of the pre-eminent UK fund management operations.
In this article I'm looking at the fundamentals underlying the company since its last filing, and trying to get an understanding of why investors have sold Man shares. Its March results demonstrated that it was clearly outperforming its peers in the financial sector.
How does Man Group measure up?
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