Trend Follower Man Group Plc Beats Estimates

Managed futures trend follower MAN GROUP PLC (OTCMKTS:MNGPF), one of the world’s largest hedge funds, reported performance that beat estimates.

“At 7.9c (per share), the dividend will be ahead of most expectations we believe, while the company has announced its intention to repurchase $115m of its shares,” a JPMorgan Chase & Co. (NYSE:JPM) report noted. JPMorgan Chase & Co. (NYSE:JPM) retains a cautious outlook of the trend follower among what have been some of the worst managed futures market environments in history. JPMorgan said this “is prudent in our view given the indifferent performance...