According to a Dow Jones news report, Man Group said the acquisition would add $8.5 billion in funds under management to its current $10.7 billion.
Man Group specializes in managing hedge funds and mutual funds that invest in futures contracts. It also trades futures and options contracts in a brokerage business. RMF caters to European pension funds.
Man posted net profit of $221.9 million for the year ended March 31, up 22% from the previous year. Man said strong demand in the hedge-fund market boosted funds under management by 60% from $6.7 billion to $10.7 billion, pushing management-fee income up by 66%.
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