World's Largest Publicly Traded Hedge Fund Enters ETF Space
Man Group, the world's largest publicly traded hedge fund manager, filed a preliminary prospectus for two active fixed-income ETFs, marking the London-based firm's first entry into exchange-traded fund distribution as alternative managers increasingly turn to ETFs for access to complex strategies.
According to the June 13 filing with the Securities and Exchange Commission, the Man Active High Yield ETF and Man Active Income ETF will use active bond strategies, including derivatives, high-yield bonds, emerging markets exposure and illiquid credit investments—bringing institutional-grade bond management to everyday investors through ETFs.
The move represents more than just another ETF launch in an already crowded marketplace. It signals how ETFs are evolving from their origins as simple baskets for broad market exposure into ways to deliver complex investment strategies once available only to hedge funds and large institutional investors.
The Man Active High Yield ETF will invest at least 80% of net assets in high-yield securities rated below investment grade, according to the filing. The fund may invest up to 30% in securities rated below B3 by Moody's Investors Service or lower than B- by S&P Global Ratings or Fitch Ratings.
The Man Active Income ETF seeks to generate current income as its primary objective, with capital growth as a secondary objective, according to the filing. The fund will invest across four primary sectors: high-yield corporate debt, investment-grade corporate debt, government and agency debt, and securitized debt.
The filing reflects how ETFs have evolved from simple, index-tracking funds into vehicles for active strategies. For newer investors, this opens access to institutional-grade tools they couldn't reach before, but it also brings complexity.
The filing reveals active bond management approaches from a firm known for its expertise in hedge funds. The strategies may invest in distressed securities, contingent convertible bonds and bank loans with extended settlement periods, according to the filing.
Both funds are non-diversified and may use derivatives for hedging and return enhancement, including futures, options, swaps and credit-linked notes, according to the filing. GLG Partners LP serves as sub-adviser with portfolio managers Michael Scott overseeing the High Yield ETF and Jonathan Golan managing the Income ETF.
Man Group reported $172.6 billion in assets under management as of March 31, according to its April trading statement. The firm saw $3.6 billion in net inflows during the first quarter despite geopolitical and economic headwinds.Permalink | © Copyright 2025 etf.com. All rights reserved
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