MAIL.L Regulatory News (MAIL)

24 Jan 2007 16:00

Man Alternative Investments Ld24 January 2007 Man Alternative Investments Limited December 2006-------------------------------------------------------------------------------- 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 December 2006 Key Statistics---------------- ---------------- ---------Total Return 0.0 %Last Month 1.4 %Last Quarter 4.6 %Last 12 Months 9.5 %Year to Date 9.5 %---------------- ---------NAV per Share GBP 1.0000Total NAV GBP 32,998,973No. of Shares 33,000,000---------------- --------- Glenwood Portfolio December Commentary The Glenwood portfolio continued to post a gain in December, with all stylescontributing positively. The US dollar recovered some of its losses in December,particularly against the Japanese yen and the euro as investors became moreoptimistic over the state of the US economy. The price of crude oil fell, withWest Texas Intermediate ending the period at a little over US$60. Global equitymarkets continued their upward trend with continuing high levels of corporateactivity and solid economic data driving many indices to fresh highs. The eventdriven style generated gains from continued corporate activities by strategicbuyers and private equity firms. Credit investments delivered further returnsfrom the narrowing of spreads for high yield bonds. The commodity & tradingstyle benefited from well placed positions as most major commodities sold off onthe back of global growth concerns and positive supply-demand data. Net longexposure to equity markets enabled the equity hedge style to profit from the USmarket while the variable equity style captured excellent returns from China,India and Europe. Thematic and long-biased strategies continued to perform well,particularly the airline, healthcare and biotech sectors. Meanwhile, a generalimprovement in convertible pricing across the board in the US market boostedreturns from the relative value style and multi-strategy posted a gain, withenergy trading and convertible arbitrage strategies performing well. Key Strategies Contributions * Key Strategies Contributions *Commodity & Trading 0.38 % Multi-Strategy 0.22 %Equity Hedge 0.11 % Relative Value 0.06 %Event Driven 0.49 % Variable Equity 0.35 % This information is provided by RNS The company news service from the London Stock Exchange