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Man GLG Undervalued Assets

Elite Rated by FundCalibre

A useful addition for investors drawn to the value-driven approach. Henry Dixon has brought the process across from Matterley to GLG. He and Jack Barrat will be using the same approach and will benefit from GLG’s better access to company managements.

Company Description

GLG, a member of Man Group since 2010, is listed in the UK, USA, Switzerland and Hong Kong. With an on-the-ground presence in key markets, GLG deliver investment strategies across various asset classes, sectors and geographies. GLG funds were rebranded in August 2015 to Man GLG. The group were awarded the Elite Provider for Equities rating in 2017.


Fund Manager

Henry has managed this fund since November 2013, with Jack working alongside him since October 2014. Prior to joining the company, Henry was a portfolio manager and founder of Matterley, where he ran their flagship fund with the same strategy as for this one. He has 11 year’s equity investment management experience. Jack was also a part of the Matterley team, after four years at UBS investment bank, where he was part of their top ranked Equity Sales team.


I like to focus on cash and assets. They are more fun and less demanding than liabilities.

Henry Dixon - Fund Manager

The Investment Process

The fund uses an extensive screening process to discover companies whose profit streams are undervalued by the market and are cash generative and trading below the replacement cost of their assets. The fund is unconstrained by benchmarks and can invest up to 20% in European stocks


The fund can have significant small and mid-cap exposure but the positions and weights are conviction led, driven by potential upside to target price, liquidity, and volatility. Meeting management teams is also a crucial part of the risk assessment.

Our Opinion

An overtly value-driven approach with an unusual screening process, it has delivered results for Henry at Matterley. The same process is now being applied at GLG Partners, whose better access to companies will be an added bonus.

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