Quant Funds Did Not Cause Sell-off, Man Group CEO Says
- CTAs were not indiscriminate sellers in the market, he says
- Some Man Group, Winton and Aspect funds declined last week
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Man Group boss Luke Ellis defended the hedge-fund industry from suggestions that trend following strategies were to blame for the surge in volatility that rocked global markets last week.
Commodity trading advisers, which bet on market trends and across asset classes, did sell positions but not indiscriminately, the chief executive officer of the world’s largest publicly-traded hedge fund said in an interview with Bloomberg Television. Instead, the market fall was triggered by worries about inflation that would usually tend to hurt bonds.