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Meaning, to me, that not only the dividend money we have been deprived of over the past years, but the increase in price that should happen has also been creamed OFF by GS's handling of the Man's Buy Back program.

We know shorting is a part of sharedealing and is legal. But what is not legal is conspiracies. For instance, what is to stop a firm (lets call it A), charged with buying back shares for another company (B), being in cahoots with other like entities and buying B’s shares while those other entities are selling their holdings of B’s shares at the same time at the higher prices. Then, in a lull, the price drops and those other entities buy B’s shares at the lower price. Nothing illegal in that so far. However, other entities issue a sell iteration for B’s share price and the price goes down further and the cycle continues with a smaller spread but with intermittent broker iterations, both up & down. Making it riskier for all but those who may be in the know, which, imo, would be illegal, (reference to LSEx rules on shorting). On hindsight of Man’s Share Repurchase scheme, the process was supposed to take place until December, (over 8 months presumably to allow for a more random operation), yet Goldman Sachs have regularly pursued it everyday and it could be finished this week, (in less than 3 months). At the start, March 6 the Share Price was 102p. Probably due to the Buy Back scheme, the daily spread was about 5p, and the base price moved up until Citigroup issued a iteration downing Man’s price. Man’s main fund AHL continued to improve yet while there has been a couple of increased iteration’s by Panmure Gordon and another, the likes of Esprito, Numis jumped in to further down Man’s price causing fluctuations in Man’s price but the daily spread reduced dramatically to a level that PI’s could not, if they wanted to, profit by trading it as they tend to encounter higher overheads. Furthermore, the reasoning for the buy back at the inception was to return value to the shareholders, (we innocently assumed PI’s as well), as a reduced amount of shares would up the base of the share price, (approx 6%), yet Man’s share price has not been allowed that increase for the reduced number of shares in circulation or for the much improved performance of its AHL fund. Indeed, Man's price is now well under its start March 6th price of 102p. Meaning, to me, that not only the dividend money we have been deprived of over the past years, but the increase in price that should happen has also been creamed of by GS handling of the Man's Buy Back program. If the likes of me can question why Share Repurchase scheme, was given to Goldman Sachs, (especially with their fairly recent background), I am at a loss as to why the regulators can’t investigate the matter and take action to rectify it..

Will this be the opportunity for Man's funds and a catalyst for a rapid rise in Man's Share Price? https://uk.finance.yahoo.com/news/japan-readies-unshackle-huge-pension-053827818.html

With AHL currently battling well, (only 8% or so below hwm), FRM also doing well and GLG improving, we could rightfully assume a far better rise in the share price. However, it clearly is being prevented. Why? I seem to remember that when there was talk of Man being taken over, ex CEO PLC and BoD went down the acquisitions route to thwart, (GLG in 2010 then FRM later) on. Now we hear of the acquisitions of Pine Grove and maybe Numeric. Is there something in the wind on that score I wonder. A further pointer could be that the pros seem to run down a price when they think it is going to rise. Simply to try and shake out people like myself.

The MM, Brokers, II all have definite advantages over PIs. (Notwithstanding, Spreads, fees & taxes that have to be overcome). So why the cheating is beyond me. I would agree that genuine people in the trade, maybe a bit greedy or otherwise, should turf out the cheats. IMO by not doing so they are shooting themselves in both feet with multiple barrels. I remember, not so many years ago London Stock Market was on its uppers as having allowed PI's, fund clients etc to be fleeced, there was a lack of investors. Going there again, fast I should think. Just my opinion but I suspect all abetted, innocently or otherwise, by the regulators in power sitting with their heads in their purses and hands

Yes, AHL is doing well, holding on to its gains at $1.187, but it is not being shown in Man's share price. Is that due to GS been given the 'Buy Back'. Proving it would indeed be difficult for the likes of us, however, regulators don't need absolute proof to investigate as it is usually from an investigation that the proof will evolve. Therefore, I can't understand why GS was given the job in the first place, was there no more contenders? Because of GS's record along with their cohorts Citigroup etc Man' price was allowed to be manipulated down, (even in the face of improved performance in Man's funds). However in doing so they have effectively prevented Man's price from rising, (to 1.17p IMO), which is in being with the improved fund performance. What's happening today is the shorters are rampaging, uncontrollably, in many shares. In situations where regulators needed to have more impetus, instead, IMO they have sat on their hands in the lead up to this over many months, (if not years). So much so, that it appears they are being treat with the same contempt as what the shorters have for genuine investors. Ponders belief that we would be better protected in a betting shop environment.

Hi Jackd, Thanks. AHL now recovered to almost $1.19. Last year at this level of AHL, Man's price was 125p. However, I remember that on August 15, 2011 when AHL was at $1.2255, (having risen 8.2% on that year), when Man's price was 199p. Apart from the AHL diversification there is further diversity in Man adding Pine Grove and possibly Numeric to (FRM and GLG, both starting to recover after short blips). So my thinking is why on earth are are GS and cohorts holding back Man's share price? And why the 'Buy Back' may be finished by end of next week, even though GS had until December to complete. I relented and bought some back in my assumption that the next dividend, due around August, will be added to and that the share price will grow quickly. (Only my opinion of course).

Contrary to what happened previously AHL rises seem now to be larger than its losses. Hence the rise towards hwm.

AHL down again however amount of loss is receeding so it looks like it is stabilising the downs and seeing that it is still 9% up since March 24 then dare I say it, there could be Hope. However, I'm afraid, not before the fiddling. regarding creaming off our dividend cash is stopped and some given to us. There again it appears a more bullish attitude is building up, recent targets increased to 112p - 125p. My own opinion based on that the buy off of shares should have increased the price by 6% added to the gain in AHL the price should be 117p, thats up from 102p at the start of the buy back.

Agree that they seem incapable of understanding AHL, especially the fundamental aspect of holding on to gains before losses take a hold, they shouldn't really be in this business if they cant. However, when AHL rises it does not seem to effect a similar rise in Man's price, (fact is it goes down more often than otherwise). IMO what is happening is the price is being contained in a certain range. (British Bulls seem to have cottoned on to this, just look at their recent record). Again in my opinion this can be associated with Goldman Sach's handling of the share repurchase scheme. Which is worrying as it smacks of the same routine when CWW was taken over a couple of years ago. A company takes over management of another before dictating term's of

Hi jackd, good to hear from you. Unfortunately, no matter how much any of us can average down, Goldman Sachs is dragging Man's price down,(5%lower then when they started), despite its main contributing fund, AHL, doing so well. (Up again last week), 9% up in the time of this GS debacle. UK Regulators waste of space, if they do what they are paid for then they would be looking into matters such as how GS were given the job in the first place.

Certainly is IMO, Pamure Gorden appears to also agree, so umch so they gave upped the target price by a whopping 25% to 125p. With AHL Est Navv at 1.18 or so the price should be around 1.12 but for GS holding it back.j

Certainly agree with buy back being a miserable failure IMO. Not enough spread to cover costs the way it has been activated but possibly predictable to be use to insider shorters. However, at the rate it has been going Only a couple of weeks left even though it was scheduled to run until December. Maybe the special divi will quickly follow. However, AHL's Est Nav now up to 1.18. 2% on week so far. But not so far off hwm.

Can't disagree with what you post plus IMO there could still be 11p to 12p left for a special dividend even if Manny goes ahead and gets Numeric, (or something else), at a reasonable price of course.

British Bulls see the sense in aborting their shorting, now recommend buying, yet the trolls citibank, numis (d)espirito continue to try to drag Man down, (with no cause whatsoever and it appears to me with not just a little help from GS of course). USA and Europe are cracking down so they all come here. How long can the unfair abuse last in the UK before our near sighted regulators do something about this blatant disregard for their own rules. Repeat, the last time AHL this level Man's price was over 122p, now its being kept below 100p, quite a remarkable difference.

Can lenders of shares for shorting lose out if the shorters get into financial difficulties?

Man will either acquire prospering business with our special dividend cash or give us the cash as a special dividend. Maybe both? Contrary to what I was thinking, looks to me that Manny could be wrong footing shorters. Despite reservations of this management there is more confident in Manny & co acquiring at the right price than Peter Clarke's acquisitions, (GLG & FRM). It also gives more confidence in the use of 'the excess cash' being used to increase the share price considerably, and even further if the improvement in AHL continues.

Yes, AHL did reach 1.29 or so, April 2013, but lets not forget it was on the back of the Japanese success at that time. The fall in the japanese and dependence upon it prompted Man's AHL Diversification program last August and AHL recovered from 1.0315 to 1.126 in 9 trading days. (Oct 8 to Oct 22). AHL then hovered between 1.06 & 1.11 until, as claimed by management, that diversification has taken effect. I'm not a fan of the ex-Goldman Sachs management either, but credit where it is due, this time AHL has risen from 1.06 to 1.156 in just two months, (the highest it has been for a year). Lets hope it continues upwards towards HWM. However, bearing in mind that any GLG effect on Man's share price was written off by the pundits/mm in 2011 then Man price is seriously undermined when AHL is where it is at the moment. I can't see any reason for this, except that GS could be manipulating for their own purpose. Again I sincerely hope not.

Just looked thro' records and see that the last time AHL was higher than this was at 1.169, (almost 1 year ago on May 30 2013), when Man share price closed at 122p. Seems like Man's current price is certainly being "cramped" at only 94p. Wonder why?

right. If so AHL, only 9% or so to go to HWM