Goldbug100 - RBS upgrades hedge fund manager Man Group (EMG.L) to 'hold', from 'sell'

Man Group (EMG.L) has around 23% of its group funds under management (FUM) exposed to Japan 15% sourced from Japanese (retail) clients; and 8% from its GLG Partners division. The share price has fallen by around 13% over the last 13 days.

"The impact of this is likely to be some redemptions, although given most Japanese retail exposure is likely to be in the form of structured product with average duration over a number of years and with early exit fees, the risk is more likely to be the impact on future sales," says the broker.

While the FUM exposure to Japan means the stock is likely to continue to underperform other asset managers, the broker believes the stock now represents fair value. The target price is unchanged at 244p.

5 year chart  

Japan a "buying opportunity," will recover: Buffett - Yahoo! News