Man Group

“The biggest blue chip loser was Man Group, the world’s largest listed hedge fund firm, which shed 6.9 per cent after it said assets under management had fallen over six per cent.”

“The move, which values GLG at $1.6bn (£1.1bn) will create a business with assets worth $63bn.”

“Man Group said the move would allow it to streamline business costs and save it $50m a year.”