URGENT-Man Group CEO sees return to net inflows in H2
LONDON, July 9 (Reuters) - Man Group -- the world's largest listed hedge fund manager -- expects to return to net inflows during the six months to March 2010, chief executive Peter Clarke said on Thursday.
"I think Man Group will return to net inflows during the second half. The momentum of both parts of the business suggests that is when it will be," Clarke told Reuters as the firm's AGM.
His comments came after Man reported continued net outflows during the first quarter to end-June. [ID:nL8552163]
Clarke also said at the meeting he was considering legal action over the losses incurred from exposure to convicted U.S. fraudster Bernie Madoff, confirming publicly for the first time comments made to Reuters in January. [ID:nLE40556]
"We are pursuing with lawyers how to recover assets. We've not been the subject of any litigation," he said. (To read the Reuters Hedge Fund Blog click on blogs.reuters.com/hedgehub; for the Global Investing Blog click here)
