Money manager Man's shares hit by assets fall

One of the world’s biggest money managers slumped in value today after it revealed investors dumped huge amounts of funds amid recent market volatility.

Man Group, a hedge fund specialist, said total funds under management fell to $65bn at the end of September, 8% lower than three months earlier. Its shares dived 20% in the FTSE 100 Index, wiping around €1bn from its value.