Biggest Public Hedge Fund in the World Getting Smashed

Man Group is the biggest publicly traded hedge fund in the world and recently it has been getting smashed. According to Forbes:

Man Group, the world’s biggest publicly-traded hedge fund firm, had a terrible week that got even worse on Friday as its shares fell another 4% and hit a 52-week low. It has been a humbling decline for the once mighty Man, which has now seen its stock fall by 60% in the last year. The stock fell every day this week.

What’s worse is that its main fund is down while the market is up. Talk about adding insult to injury. As its market cap falls, there is a risk that Man may get kicked out of the FTSE100:

With $59 billion of assets, Man Group is now facing the uncomfortable fact that it could be kicked out of the FTSE 100 index in June, which would lead index funds to dump the stock. The traders at AHL, which pursue a managed futures strategy, will have to turn performance around quick. They are already 14% below their high water mark.

I wonder if the firm’s traders are already placing wagers on this scenario.