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Managers under the hammer

Ten years ago Man Group snapped up a fund of hedge funds for $830m and banks were hoovering up fund managers: how times have changed

Ten years ago Man Group snapped up a fund of hedge funds RMF for $830m and banks were hoovering up fund managers: how times have changed.

Man Group bought RMF for $830m in May 2001. Since then, RMF's prospects have headed steadily south. Even its name disappeared, following controversy over its investment in funds advised by Bernard Madoff.

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