Man Group said it would buy back up to $250m of shares to return cash to shareholders.
The FTSE 250 hedge fund group said it would start the buyback with a $125m tranche. The programme will run from 8 December for a year.
“The share buyback programme is in line with the company’s policy to distribute capital to shareholders while maintaining a prudent balance sheet after taking into account required capital and potential strategic opportunities,” Man said.
The company said the purpose of the buyback was to reduce its share capital and enable it to make payments to employees in share option schemes.
