LONDON, April 26 (Reuters) - Odey Asset Management has uppedits stake in Man Group, having already profited inrecent months as investors bet on a recovery at the hedge fundfirm.
London-based Odey, founded by veteran fund manager CrispinOdey and which is known for its lucrative bet in 2009 on arecovery in Barclays shares, raised its stake in Man to6.07 percent on Thursday.
Former FTSE-100 firm Man, which reports fund flows nextmonth, has suffered in recent years from poor returns from itsflagship fund and client withdrawals, although some investorsand analysts have been encouraged by the appointment of MannyRoman as CEO earlier this year.
In October Odey sharply raised its stake to 5.15 percent,since when the shares have recovered by around 30 percent.
Barclays (BARC)
Man (EMG)