LONDON, March 15 Top executives at Man Group
will receive no bonuses for 2012, a source close to the
London-based hedge fund firm said.
Full details of the compensation paid to the hedge fund
group's senior executives are due to be released when it
publishes its annual report next week.
The source confirmed details earlier reported by the
Financial Times, which quoted the company's annual report.
Man, which last month reported an eight percent fall in
assets under management since September, declined to comment.
Man's shares have fallen by around two-thirds since the
start of 2011 and the group has experienced net customer
outflows in every quarter for the last four years, apart from
two quarters during the first half of 2011.
Hedge fund managers could be next in line after bankers for
restrictions on their pay if European lawmakers follow through
on promises to target the sector's lucrative payouts.
Many funds have been complaining of "regulatory fatigue" as
they prepare for the arrival of the Alternative Investment Fund
Managers Directive (AIFMD) this summer after years of battling
with EU regulators - a directive whose rules on pay are far less
stringent than the caps on bankers' bonuses.