Strategies
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Philosophy
We believe that there are pockets of inefficiency in the market that can be exploited through the use of cutting-edge technology and data science techniques, as enabled by our continuous investment in top talent and research capabilities.
We strive to add value for our clients along multiple dimensions. We believe that security selection, risk control, and efficient implementation are all paramount in our pursuit of alpha. Our quantitative process aims to instill rigor and discipline into each of these aspects of our investment approach. It is deep in our DNA to incorporate vast amounts of data into almost all decisions, providing a foundation that enables us to take advantage of the growth in data that has occurred in recent years. Our investment team plays a critical role in overseeing the models and ensuring that that their output is in line with our qualitative expectations.
We believe that there are pockets of inefficiency in the market that can be exploited through the use of cutting-edge technology and data science techniques, as enabled by our continuous investment in top talent and research capabilities.
We strive to add value for our clients along multiple dimensions. We believe that security selection, risk control, and efficient implementation are all paramount in our pursuit of alpha. Our quantitative process aims to instill rigor and discipline into each of these aspects of our investment approach. It is deep in our DNA to incorporate vast amounts of data into almost all decisions, providing a foundation that enables us to take advantage of the growth in data that has occurred in recent years. Our investment team plays a critical role in overseeing the models and ensuring that that their output is in line with our qualitative expectations.
We believe that there are pockets of inefficiency in the market that can be exploited through the use of cutting-edge technology and data science techniques, as enabled by our continuous investment in top talent and research capabilities.
We strive to add value for our clients along multiple dimensions. We believe that security selection, risk control, and efficient implementation are all paramount in our pursuit of alpha. Our quantitative process aims to instill rigor and discipline into each of these aspects of our investment approach. It is deep in our DNA to incorporate vast amounts of data into almost all decisions, providing a foundation that enables us to take advantage of the growth in data that has occurred in recent years. Our investment team plays a critical role in overseeing the models and ensuring that that their output is in line with our qualitative expectations.
Research
Responsible Investment
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Building on a long history of incorporating Governance-related signals within our models, we began explicitly incorporating more comprehensive ESG signals directly into our alpha models in early 2019.
Our ESG integration is consistent with our existing investment philosophy: a principles-based approach that focuses on data and academic research rather than datamining factors. Our ESG approach deliberately harnesses the domain expertise of the hundreds of analysts from our primary data providers. For strategies that are explicitly dedicated to Responsible Investing or for clients who request it, we also actively constrain the portfolio’s total carbon emissions.
We adhere to the old adage that you can do well while doing good and believe that our approach to creating portfolios that are more sustainable and ethical allows us to improve risk-adjusted performance for our clients while being responsible stewards of their capital. We work hand in hand with clients to customize portfolios to their desired objectives.
History
Milestones
Since our firm’s founding in 1989 we have remained committed to the pursuit of consistently adding value to our clients' portfolios above their stated benchmarks. As our founder, Lang Wheeler, first put it, “no alpha, no business,” a motto that has since evolved to "alpha first." Our quantitative investment offerings have grown from a single US equity strategy to include long-only, active extension and long-short equity and
fixed income strategies across geographic regions, investment styles and capitalization strata. In September 2014, we were acquired by Man Group plc. Man Numeric has grown from a few billion dollars in assets and a handful of employees in the 1990’s to more than $39.4bn* in total assets and more than 55 dedicated investment professionals today in addition to our extensive employee network within the Man Group
infrastructure. Under our senior leadership, which averages 20 years at Numeric, we remain committed to ongoing innovation as we continue to invest in research and development, incorporating new data science techniques and new data sources, and remain devoted to partnering with our clients as well as delivering growth opportunities for our employees.
CLICK TO EXPAND
In an ever-advancing technological environment, our competitors may have similar access to research and data. Coupled with increasingly efficient markets, we must be ever vigilant in improving our stock selection models and seeking truly differentiated potential sources of alpha.
Research occurs in both our portfolio management team, with a focus on examining portfolio behaviors and issues, and in our Strategic Alpha Research team, where the focus is on more aggressive, far-reaching, open-ended innovation. The Strategic Alpha Research group uses a structured approach to evaluating research ideas, monitoring research progress, and making proposals to the Investment Committee. Through our strategic commitment to research, Man Numeric is able to explore and test a varied and
original set of new ideas on an ongoing basis. This allows us to continuously enhance our strategies, remain competitive, and adapt to structural changes in the markets. Our decades of experience have left us with a healthy appreciation for the commitment required to uncover new potential alpha sources.
Hackathon
While we work on innovative new ideas every day,
bi-annually we host an internal, 24-hour hackathon, where we encourage employees to test their wildest ideas, take risks and possibly develop these ideas into useable applications.
universe; and the portfolio's risk constraints. The risk constraints are addressed in three distinct areas: Alpha Construction, Portfolio Construction and Analytics/Compliance.
Our on-site trading desk currently consists of traders covering both U.S. and non-U.S. markets in real-time. As a quantitative manager, we believe strongly in the use of algorithms and other forms of electronic trading as generally the most efficient means of execution. Man Numeric was an early adopter of electronic trading and we have invested heavily in this area over the years. Man Numeric maintains several proprietary algorithms in-house that handle a large percentage of our orders. These algorithms allow Man Numeric's traders to focus on time-sensitive or particularly illiquid issues. We believe our mix of traditional traders and
algorithms helps to lower overall transactions costs and ensure that ideas become portfolio positions quickly while trying to minimize market impact. We strive for control, quality and efficiency in execution by conducting rigorous analysis on transaction costs. Transaction cost analysis is a collaborative effort between our traders, portfolio managers, and researchers. We appreciate that our success as a firm depends as much upon the manner in which we manage our business as it does upon how we manage our clients' portfolios. As a result, our business strategy is closely aligned with, and fully supports, our belief in and commitment to generating consistent excess returns for our clients.
This allows us to continuously enhance our strategies, remain competitive, and adapt to structural changes in the markets. Our years of experience have left us with a healthy appreciation for the commitment required to uncover new potential alpha sources.
Careful implementation of our stock selection results is important to harvesting each strategy's return potential. We believe successful implementation includes focused portfolio construction, deliberate risk management, transaction cost sensitivity, and trading efficiency.
We build portfolios bottom-up given the existing positions; the potential alpha opportunities that our models identify; the predicted liquidity, transaction costs and risk characteristics for each name in our
universe; and the portfolio's risk constraints. The risk constraints are addressed in three distinct areas: Alpha Construction, Portfolio Construction and Analytics/Compliance.
Our on-site trading desk currently consists of traders covering both U.S. and non-U.S. markets in real-time. As a quantitative manager, we believe strongly in the use of algorithms and other forms of electronic trading as generally the most efficient means of execution. Man Numeric was an early adopter of electronic trading and we have invested heavily in this area over the years. Man Numeric maintains several proprietary algorithms in-house that handle a large percentage of our orders. These algorithms allow Man Numeric's traders to focus on time-sensitive or particularly illiquid issues. We believe our mix of traditional traders and
We offer a comprehensive range of investment solutions in formats that can be tailored to meet specific client needs. Our solutions offer client driven optionality and customization including liquidity, investment restrictions, tracking error as well as the level of ESG exposure, all fully embedded in the investment process.
We offer various structures including separately managed accounts, advisory mandates, and other commingled variants (e.g., Cayman, UCITS, AIFs).
VIEW OUR FEATURED STRATEGIES
Technology
At Man Numeric we team innovative technology with talented investment professionals.
TECHNOLOGY AT MAN GROUP
While computers have revolutionized the investment industry, we believe it is the combination of people and technology that produces the best results. We take a problem-driven approach to design and development by letting the problem drive the tools and technologies we use. We continually invest in technology as we strive to stay ahead of the curve.
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Technology
Technology powers everything we do at Man Group.
Alpha Technology
Alpha Technology build the infrastructure and systems that facilitate investment decision-making, electronic execution and risk management in the front office. We are continually investing in our people, hardware, data and platform technology. We believe it’s the place to be if you want to work where open, forward-thinking, collaborative technology meets both quantitative and discretionary investment management.
Our teams ensure the firm has a robust tech platform that facilitates alpha generation, portfolio management, trade execution, operations, compliance, risk management and accounting, as well as providing “firm-wide” end user collaboration tools.
ALPHA TECHNOLOGY
Trading Platform & Core Technology
Trading Platform & Core Technology is responsible for delivering and maintaining technology solutions that enhance our capabilities throughout the entire trade lifecycle from order generation through to settlement. We also manage the core IT infrastructure that underpins the whole company.
TRADING PLATFORM & CORE TECHNOLOGY
Having a common programming language and unified codebase promotes collaborative and stimulating working practices, where researchers and technologists naturally exchange ideas in an open environment. Our robust hardware, tools and software engineering practices help ensure high levels of productivity, quality and the necessary agility to quickly meet the needs of a dynamic business.
It all starts with data. Lots of it. We source vast amounts of data from numerous vendors to feed our research and portfolio management processes. This poses constant technological challenges. We are continuously improving our data ingestion by innovating the methods used for data storage solutions and building a next-generation research platform for data science.
Go beyond the models. Our proprietary trading system gives portfolio managers and traders inventive and highly flexible ways to monitor and direct order flow. This allows us to tailor customized strategies for our clients to help meet their specific needs.
Technology is evolving. And so are we.
Strategies
EMERGING
Man Numeric began managing emerging equity strategies in 2010. The suite has expanded to include small caps and country-focused strategies.
NON-US
Man Numeric began managing non-US equity strategies in 1998. The suite has since expanded to include country, region or multi-region focused strategies including active extension (130/30) and low volatility varieties.
US
Man Numeric began managing US equity strategies in 1989. The suite has since expanded to large and small caps including active extension (130/30) varieties.
ALTERNATIVES
Man Numeric has been a leader in developing quantitative alternative strategies since 1990 when we launched our first market neutral strategy. The Alternatives platform continues to evolve and now includes risk premia and liquid illiquid offerings.
CREDIT
Man Numeric launched its first systematic credit strategy in 2018. The approach leverages Man Numeric’s decades of systematic investing experience, the discretionary credit expertise within the broader Man Group, and the robust, internally-developed credit-specific models.
VIEW OUR FEATURED STRATEGIES
GLOBAL EQUITY
EMERGING MARKETS
NON-US
US
ALTERNATIVES
CREDIT
EMERGING
Man Numeric began managing emerging markets equity strategies in 2010. The suite has expanded to include small caps, active extension (130/30 or similar), market-neutral long short, low volatility, and country-focused strategies.
NON-US
Man Numeric began managing non-US equity strategies in 1998. The suite has since expanded to include single country, region or multi-region focused strategies including active extension (130/30) and low volatility variations.
US
Man Numeric began managing US equity strategies in 1989. The suite has since expanded to large and small caps including active extension (130/30) versions.
ALTERNATIVES
Man Numeric has been managing quantitative alternative strategies since 1990 when we launched our first market neutral strategy. The Alternatives platform continues to evolve and now includes risk premia and liquid illiquid offerings like liquid private equity.
CREDIT
Man Numeric launched its first systematic credit strategy in 2018. The approach leverages Man Numeric’s decades of systematic investing experience and the discretionary credit expertise within the broader Man Group to create the robust, internally developed credit-specific models that power these strategies today.
GLOBAL
Man Numeric began managing developed market global equity strategies in 2011. The suite has since expanded to include small cap and low volatility variations.
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Hackathon 2019
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