Trading Statement

25 Apr 2006 17:00

Man Alternative Investments Ld25 April 2006 Man Alternative Investments Limited March 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 March 2006 ------------------------ Key Statistics ------------------------ ---------------- ---------Total Return -3.1%Last Month 1.5%Last Quarter 6.1%Last 12 Months 15.1%Year to Date 6.1%---------------- ---------NAV per Share GBP 0.9688Total NAV GBP 31,971,901No. of Shares 33,000,000---------------- --------- Glenwood Portfolio March Commentary The Glenwood Portfolio posted a profit over the month. A positive return wasgenerated by all styles, apart from equity hedge and relative value whichfinished close to flat. Most equity markets were up in March, with the FTSE 100and the Nikkei 225 breaking through the 6000 and 17000 levels for the first timein 5 years respectively. Profits posted by the variable equity style provedbeneficial to returns. US long/short managers benefited from a strong and broadbased US market performance while midcaps also enjoyed a profitable month. Thosemanagers with holdings in technology, telecommunications, industrials, materialsand energy boosted returns. Elsewhere, the event driven style posted a gain.Merger arbitrageurs secured handsome returns as deal activity drove the rally inEuropean indices while trading in mining stocks also supported performance. Key Strategies Contributions * Key Strategies Contributions *Commodity & Trading +0.27% Multi-Strategy +0.29%Equity Hedge +0.09% Relative Value +0.01%Event Driven +0.43% Variable Equity +0.57% This information is provided by RNS The company news service from the London Stock Exchange