MAIL.L Regulatory News (MAIL)

23 Jun 2005 16:45

Man Alternative Investments Ld23 June 2005 Man Alternative Investments Limited May 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 May 2005 ------------------------Key Statistics------------------------ ------------------------- ---------Total Return -16.6% Last Month 0.7%Last Quarter -1.3%Last 12 Months 1.9%Year to Date -0.5%---------------- ---------NAV per Share GBP 0.8338Total NAV GBP 27,516,552 No. of Shares 33,000,000---------------- --------- Glenwood Portfolio The Glenwood Portfolio posted a modest profit. At the beginning of the month arally in stock prices was brought about as crude oil fell below $50 a barrel andcomments from the US Federal Reserve reinforced expectations that interest raterises would be implemented at a measured pace. In the US, the Dollarappreciated over the period amid reports that its trade deficit had contractedin March and that retail sales had increased at their fastest pace sinceNovember. Meanwhile, in Europe the rejection of the European Union Constitutionby French voters led to depreciation in the Euro. Trading performance waspositive for the equity hedge, variable equity and commodity & trading styles.However, with ongoing difficulties in the convertible bond arbitrage sector,losses were incurred under the relative value and multi-strategy styles. Theequity hedge style generated gains from the consumer discretionary andtechnology sectors, with managers holding net long positions returningpositively following the rise in equity markets. Furthermore, the variableequity style added to profits from trading in consumer and the technologysector. Conversely, losses from the relative value style weighed on overallresults as hedge fund redemptions and credit concerns pared investor sentiment. Key Strategies Profit/Loss * Key Strategies Profit/Loss * Commodity & Trading 0.23 % Multi-Strategy -0.10 %Equity Hedge 0.28 % Relative Value -0.16 %Event Driven 0.06 % Variable Equity 0.27 % This information is provided by RNS The company news service from the London Stock Exchange