Man up on fees

HEDgE fund manager Man group posted forecast-beating first-half results as performance fees helped it to achieve a profit rise.

Although trouble in greece and China’s stock-market crash hit the performance of some of its funds, its glg business performed well.

Pre-tax profit jumped 80pc to £179m in the six months to the end of June, compared with the same period last year.

The value of its investments grew by nearly £450m to £2.43bn. It raised its interim dividend to 5.4 cents (3.46p), up from 4 cents in the same period last year.

Shares rose 11.4p to 162.4p.