Shares in the fund, to be listed under the symbol MTY, will be offered at $20 per share, for minimum orders of 100 shares. Exactly how much the fund aims to target is not disclosed, but the fund anticipates using leverage of up to approximately a third of total managed assets (or 150% of net assets).
The Man Dual Absolute Return Fund aims to invest around 80-85% of its assets in the US QLS Strategy, a long/short equity strategy managed by Tykhe Capital, a New York-based hedge fund manager. The remaining 15-20% will be invested in the AHL Futures Strategy, a quantitative strategy operated by Man Group since 1989.
Man Group has an estimated $65 billion of funds under management. Its funds at March 31 stood at $61.7 billion.