Blackrock Drastically Reduces Man Group Stake

BlackRock, Inc. (NYSE:BLK) has reduced its stake in the Man Group PLC (LON:EMG) to below five percent, according to statements filed today with the SEC. The reduction in stake means that BlackRock is no longer the largest shareholder in the investment firm.

Man Group PLC (LON:EMG) is a London based alternative investment manager. The firm has delivered poor results in recent months, leading many to question its strategy for the future. In November, the firm moved $1.5 billion from its flagship AHL fund to a new fund using an experimental strategy. Shares in Man Group closed down 1.34% on the...