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    Tuesday, November 24, 2009

    Man Group Cut To Neutral At Credit Suisse

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    By Polya Lesova
    MarketWatch Pulse
       

      FRANKFURT -- U.K. hedge-fund manager Man Group was downgraded Tuesday to neutral from outperform at Credit Suisse, which said the stock is close to fair value after the recent share price rally. "Although private client sales momentum is strong, we have some concern about the impact of investment performance at the group's flagship fund AHL on future sales," Credit Suisse analysts wrote in a note to clients. "AHL is now 12% below its performance fee high watermark and appears to be heading for its first down year." The analysts said they see superior growth prospects elsewhere in the sector and Schroders remains their preferred play.

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