MAIL.L Regulatory News (MAIL)

26 Apr 2005 16:45

Man Alternative Investments Ld26 April 2005 Man Alternative Investments Limited March 2005 Investment Objective Generate strong and consistent capital growth over the long-term in sterlingterms with low volatility by allocating assets to managers who trade indiversified markets implementing a broad range of fundamental, technical,systematic and discretionary strategies. Track Record: From inception on 24 May 2001 to 31 March 2005 Key Statistics ------------------------ Total Return -15.8% ---------Last Month -0.3%Last Quarter 0.5%Last 12 Months 3.3%Year to Date 0.5%---------------- ---------NAV per Share GBP 0.8417 Total NAV GBP 27,776,986 No. of Shares 33,000,000---------------- ----------- The Glenwood Portfolio registered a loss in March. Performance was hampered bylosses from the variable equity, relative value and equity hedge categories.Results were improved slightly by profits from the event driven andmulti-strategy styles. Global equity markets fell over the month afterconcerns over future interest rate rises and spiralling oil prices underminedinvestor confidence. In the variable equity category, managers with net longpositions struggled as share prices fell, while a manager specialising in thebiotechnology sector suffered particularly. Managers within the relative valuestyle incurred losses during a difficult month for convertible bondarbitrageurs. Low volatility, weak new issuance and widening credit spreadscombined to make conditions trying for managers of this style. Profitsaccumulated in the event driven category managed to contain losses. Distressedmanagers produced gains from company specific issues, while risk arbitragemanagers also generated positive returns as merger activity remained relativelybuoyant. Further gains were posted from the multi-strategy style after managersin event situation, long/short equity and energy-related trading sub-strategiesrecorded profits. Performance from the commodity and trading style was flat. Key Strategies Profit/Loss * Key Strategies Profit/Loss * Commodity & Trading 0.00 Multi-Strategy 0.04Equity Hedge -0.08 Relative Value -0.11Event Driven 0.05 Variable Equity -0.26 This information is provided by RNS The company news service from the London Stock Exchange