Lazard's Custis backs Man Group acquisition spree to continue

Lazard UK Omega manager Alan Custis is backing the acquisitive Man Group to pursue further M&A activity as it continues to diversify away from its quant strategies.

Man makes up part of Custis' 21.2% weighting to financials as at 31 May 2015, compared with a FTSE All Share index weighting of 25.9%. The stock ranks among UK Omega's favoured plays in the sector because it is "being managed much better than arguably ever before", Custis said. After seeing its share price double in 2014, FTSE 250-listed Man has pulled back year to date as investors begin to fret about the performance of quantitative strategy AHL once again. But the firm has also made a number of acquisitions over the past 18 months, most notably the purchase of $14bn US firm Numer...