Man Group, the world's largest listed hedge fund manager, said this morning that its flagship computer-driven strategy AHL has moved further from the point at which it can start charging performance fees, while alternatives funds run by GLG Partners, the asset manager it acquired in May 2010, have been gaining ground.

In an interim management statement today, Man Group said that at the end of March AHL was about 14% from its peak - or high-water mark - the point at which it can start charging lucrative performance fees.