MAIL.L Regulatory News (MAIL)

28 Jan 2005 17:11

Man Alternative Investments Ld28 January 2005 Man Alternative Investments Limited December 2004 Investment Objective Generate strong and consistent capital growth over the long-term in US dollarterms 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 December 2004 Key Statistics ------------------------ Total Return -16.2% Last Month 1.3%Last Quarter 3.4%Last 12 Months 1.3%Year to Date 1.3%---------------- ---------NAV per Share GBP 0.8379Total NAV GBP 27,651,809 No. of Shares 33,000,000---------------- ---------- Glenwood Portfolio The Glenwood Portfolio produced a positive performance, fuelled by the VariableEquity, Event Driven, Equity Hedge, and Multi-Strategy categories. Following adrop in oil prices and the release of strong corporate earnings figures, USstock indices continued on an upward trend in December. A broad base of datahighlighting a continued expansion in the US economy fuelled speculation thatthe Federal Reserve would increase its benchmark interest rate. Trading ininternational equity markets benefited managers in the Variable Equity style, asthey profited from an increased dispersion amongst stocks. High-yield marketscontinued to perform well due to strong credit fundamentals and market technicalfactors, benefiting distressed securities managers within the Event Drivencategory. Long positions held by equity hedge managers profited from an ongoingrally in US equity markets. Distressed, event driven and equity strategiesposted gains in the Multi-Strategy style. Biotech, financial and gaming sectorsproved profitable for Commodity & Trading managers, offsetting losses incurredby managers employing systematic trading strategies. The Relative Value style'sperformance was close to flat, with managers struggling amid negative netconvertible bond issuance in the US, for the eighth consecutive month. Key Strategies Profit/Loss Key Strategies Profit/Loss Commodity & Trading 0.04% Multi-Strategy 0.24%Equity Hedge 0.28% Relative Value -0.04%Event Driven 0.31% Variable Equity 0.39% This information is provided by RNS The company news service from the London Stock Exchange