You’ll be a man one day, my son

Man Group often complains that people forget it’s more than just a provider of hedge funds. It also owns a futures broker, Man Financial. Now investors are paying rather too much attention to this business. It has been tarred by the scandal surrounding disgraced rival US futures firm, Refco. And the Securities and Exchange Commission is investigating the collapse of one of its hedge fund clients. That has hit Man’s shares – but excessively so. The episode underlines the extent to which Man’s sh...