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Next Edge Capital Announces Fund Name Changes
TORONTO – June 11, 2014 – Next Edge Capital Corp. (“Next Edge”) (formerly Man Investments Canada Corp.), the manager and trustee of the funds listed below, today announced a number of name changes to the Next Edge investment fund line-up. Effective on or about June 11, 2014, the names of the investment funds managed by
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Man Group plc (Man Group) is an alternative investment management business initially founded as a sugar cooperage and brokerage by James Man in 1783. It provides a range of funds for institutional and private investors globally and is the world's largest publicly traded hedge fund company, reporting $78.1 billion in funds under management as of March 2015.[3][4] The firm is headquartered at Riverbank House in London and employs over 1,000 people in various locations worldwide.[5] The company is a noted sponsor of the arts and charitable initiatives, including the Man Booker Prize and the Man Charitable Trust.
In recent years the firm has made several acquisitions as part of its strategy to diversify the business, particularly in the United States. These acquisitions including Man Numeric, a quantitative equity manager. The firm has also seen a shift towards institutional clients and, with its 2016 acquisition of Aalto and launch of Man Global Private Markets (Man GPM), a move into private markets.
History
The company was founded by James Man in 1783 as a sugar cooperage and brokerage, based in Harp Lane in Billingsgate. The following year Man Group won the contract to supply the Royal Navy with the rum for its daily "rum tot", a tradition under which all sailors were allocated a daily rum ration. This tradition continued until 1970, with Man Group holding the contract throughout.[6] The company further expanded from sugar and rum into other commodities such as coffee and cocoa. The company traded as a commodities business throughout the 19th and 20th century, gradually diversifying into financial services following the advent of financial exchanges to hedge commodity exposures.[6]
The firm was renamed ED & F Man in 1869, based on the initials of James Man's grandsons Edward Desborough Man and Fredrick Man. ED & F Man listed on the London Stock Exchange in 1994. In 2000 the company divided into two entirely separate businesses, with Man Group plc focusing exclusively on financial services and ED & F Man (the commodities division) taken private in a management buy-out.[7]
In 2007 Man Group moved into its present form as an investment management business, following the demerger and flotation of its brokerage business (known as MF Global) on the New York Stock Exchange.[8]
Man Group attained its current structure over time through acquisition. Man AHL is the oldest investment manager of the group, having been acquired over time from 1989 to 1994. Man Group’s other investment managers were acquired between 2010 and 2012. In 2010 Man Group acquired Man GLG, previously GLG Partners for $1.6 billion,[9] then Man FRM in 2012[10] and Man Numeric in 2014.[11]
