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Digital Subscriptions > The Hedge Fund Journal > Issue 110 - December 2015 | January 2016 > Discretionary Man GLG Turns 20

Discretionary Man GLG Turns 20

Striving for security-specific alpha

As Man GLG, one of The Hedge Fund Journal’s ‘Europe 50’ managers, passes its second decade, we visited its London headquarters. Man GLG today has three distinct pillars, led by co-CEOs Mark Jones and Teun Johnston, comprising hedge funds, long only and Collateralised Loan Obligations (CLOs). They characterise the firm as a discretionary investment manager, offering a range of absolute return alternative and long-only strategies. “The culture here is entrepreneurial yet collaborative,” says Johnston. “Each team makes their own investment decisions, but they are supported by their colleagues and Man GLG’s high-quality infrastructure.” Mark Jones started his career at management consultant McKinsey and then joined GLG in 2005 to work on the investment side, before moving to the business side as COO. Teun Johnston was initially hired as head of strategy to develop the product range. Johnston had previously worked at Oakley Capital and Credit Agricole Asset Management (now called Amundi), where he had become deputy CIO of the Alternative Investment business, having begun his career as an accountant with Arthur Andersen. Mark Jones manages the alternatives and hedge funds strategies, and also has oversight of the CLO business, and Teun Johnston manages the long-only business.

Pictured (L-R) Co-CEOs Teun Johnston and Mark Jones

Multi-strategy or multiple strategies?

The three pillars offer multiple strategies – both as single-strategy and multi-strategy products. For some hedge funds, ‘multi-strategy’ means that they determine allocations to each strategy, team, manager or trader within one investment vehicle. Man GLG offers a range of hedge fund and absolute return strategies for investors. For a breakdown of Man GLG’s assets see Table 1. The largest Man GLG hedge fund strategy grouping is broadly market-neutral equity long/short, with over $3 billion of assets spanning small caps, mid-caps, and large caps globally. The firm’s European and global market-neutral long/short strategies have been running for 15 years, led by Pierre Lagrange, Simon Savage and Neil Mason.

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