BusinessCompany NewsMan Group FD bullish over share values

Man Group FD bullish over share values

Confident in a resurgence in stock markets, Kevin Hayes, FD of Man Group, snaps up £450,000 worth of his company's shares

Man
Group
FD Kevin Hayes has signalled his confidence in a resurgence in stock
markets by snapping up around £450,000 worth of his company’s shares.

The hedge fund group FD has been a big buyer of Man Group shares in July and
August.

On 20 July he bought 25,000 shares at £6 a share, just as the markets were
beginning to drop.

On 30 July, he bought 17,715 ordinary shares at a price of 564.50p per share.
At the start of August, Hayes bought 18,467 ordinary shares at a price of
541.50p followed by another purchase of 21,505 shares at 465p on 17 August.

While his initial purchases are now worth less than when he bought them, his
determined buying is being seen as a vote of confidence. ‘It’s a sign of good
faith [in the market],’ said a company spokesperson.

The asset management giant’s FD has been at the forefront of a drive by
company executives, including former FD and current chief executive Peter
Clarke, to snap up shares.

A spokesman said Hayes’ stake in Man group meant he would act in the
interests of shareholders. ‘His interests are aligned,’ he said.

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