Man Group has announced that it now projects earnings from continuing operations to increase more than 10 percent in the first-half of the year, reflecting growth in management fee income. Management fees will likely be up more than 15 percent, while performance fees will be higher than a year ago. The world's largest listed hedge fund thus hints at the future of publicly traded hedge funds. They may start to emphasize stability and sales growth over trading gains, their traditional raison d'etre. The market at some point may reward companies with a bit more predictability. If that happens, you might see differences between private funds and public funds, with the private funds marketing themselves as being more focused on capital gains and not sales, suggesting that the public funds are a bit too mutual fund-like.   

For more on Man's news:
- here's a MarketWatch article