One of the recurring concerns in the post-crisis environment has been the impact of short-selling by its chief perpetrators the hedge funds. This week, however, anyone holding a short position in the world's largest hedge fund manager, UK-listed Man Group, would have had the chance to cash in at a generous profit.

Man Group yesterday reported a $6bn drop in assets under management when it released its second quarter results for the three months to September 30. The group's funds dropped from $71bn to $65bn over the period in large part on the bank of under-performance in a number of funds run by GLG Partners, the hedge fund firm that Man Group acquired in May last year.