Hedge fund Man Group disappointed investors with pre-tax losses of $272m for 2016 this morning, largely driven by accounting write downs at the company’s discretionary investments arm, GLG, and at FRM, Man’s fund of funds business. Performance fee revenues were down to $81m, compared to $302m in 2015, with declines across all divisions. The FTSE 250 investments behemoth managed $80.9bn of funds, up 3 per cent, compared to last year when it managed $78.7bn. Luke Ellis, chief executive officer, at Man Group, said: 2016 was a challenging year for the investment management industry and despite respectable relative performance from...