DOES THE PROFIT FALL DERAIL MAN’S HOPES FOR ITS STOCK GROWTH?
NIC CLARKE CHARLES STANLEY
We still believe that Man should benefit from being one of the leaders in the alternative investment business arena as competitors flounder, it is clear that the environment remains very difficult. Although its major funds outperformed, its fees were down by nearly two thirds in the period.
HENK POTTS BARCLAYS WEALTH
We continue to rate the franchise as very strong. Shares had been showing good signs of recovery in recent months. But, the lack of any short-term catalysts suggests that the shares will struggle to make too much headway in the short term. That
said, the dividend should provide some support.
JONATHAN JACKSON KILLIK & CO
Despite the negative tone of today’s announcement and the subsequent fall in the share price, we don’t see the shares falling much further given the strong underlying long-term fundamentals. There is still a possibility the dividend could be cut during 2010.