Key Takeaways
- • Man Group launched its first two UCITS ETFs in Europe, with both funds beginning trading on the London Stock Exchange on 4 November.
- • The Man Active Trend Enhanced UCITS ETF (MATE/MAET) pairs MSCI World equity exposure with an equally weighted systematic trend-following overlay spanning equities, bonds, commodities and currencies.
- • The Man Active Global Infrastructure UCITS ETF (MGIN/MGIM), managed by Al Chu, invests in listed infrastructure companies worldwide.
- • Deutsche Börse lists annual product costs of 0.95% for the trend-following ETF and 0.85% for the infrastructure fund.
- • QuotedData's David Batchelor cautioned that trend-following should not be mistaken for guaranteed downside protection, noting the 0.95% charge is a considerable premium to conventional passive ETFs.
Summary
Man Group has launched its first two UCITS ETFs in Europe, extending its exchange-traded fund range beyond the US, where it began introducing actively managed funds in 2025, according to QuotedData. The launch coincided with a sharp technology sell-off driven by renewed concerns about the outlook for artificial intelligence investment.
The Man Active Trend Enhanced UCITS ETF (MATE/MAET) combines exposure to developed-market equities, referencing the MSCI World Index, with an equally weighted systematic trend-following strategy. The strategy seeks to identify and exploit sustained price movements across futures markets covering equities, bonds, commodities and currencies, taking positions based on trend direction with the aim of generating additional returns and cushioning losses when equity markets decline.
The second fund, the Man Active Global Infrastructure UCITS ETF (MGIN/MGIM), is managed by Al Chu and targets long-term capital growth through listed infrastructure companies worldwide, including utilities, pipelines, airports, ports and communications networks. The strategy focuses on companies with attractive growth prospects and relatively stable cash flows.
Both ETFs began trading on the London Stock Exchange on 4 November, with sterling and US dollar trading lines, alongside euro-denominated listings on Xetra and Euronext Milan. Deutsche Börse lists annual product costs of 0.95% for MATE and 0.85% for MGIN.
David Batchelor, senior analyst at QuotedData, noted the timing was striking: the Nasdaq fell 5.5% on 5 November and the Philadelphia Semiconductor Index plunged 12.2% as investors questioned the sustainability of AI-related spending. He argued that MATE offers an alternative that retains global equity exposure while adding a strategy that can potentially profit from sustained trends in other markets, including during falling share prices. He cautioned, however, that trend-following should not be mistaken for guaranteed downside protection, as these strategies often need time to respond to changing conditions and can struggle with sudden sell-offs or whipsaw markets. MATE will also retain significant equity exposure, and its 0.95% charge is a considerable premium to conventional passive ETFs. Batchelor noted that MGIN offers another potential diversification source, although listed infrastructure companies are not immune to equity market weakness.
The Man Active Trend Enhanced UCITS ETF (MATE/MAET) combines exposure to developed-market equities, referencing the MSCI World Index, with an equally weighted systematic trend-following strategy. The strategy seeks to identify and exploit sustained price movements across futures markets covering equities, bonds, commodities and currencies, taking positions based on trend direction with the aim of generating additional returns and cushioning losses when equity markets decline.
The second fund, the Man Active Global Infrastructure UCITS ETF (MGIN/MGIM), is managed by Al Chu and targets long-term capital growth through listed infrastructure companies worldwide, including utilities, pipelines, airports, ports and communications networks. The strategy focuses on companies with attractive growth prospects and relatively stable cash flows.
Both ETFs began trading on the London Stock Exchange on 4 November, with sterling and US dollar trading lines, alongside euro-denominated listings on Xetra and Euronext Milan. Deutsche Börse lists annual product costs of 0.95% for MATE and 0.85% for MGIN.
David Batchelor, senior analyst at QuotedData, noted the timing was striking: the Nasdaq fell 5.5% on 5 November and the Philadelphia Semiconductor Index plunged 12.2% as investors questioned the sustainability of AI-related spending. He argued that MATE offers an alternative that retains global equity exposure while adding a strategy that can potentially profit from sustained trends in other markets, including during falling share prices. He cautioned, however, that trend-following should not be mistaken for guaranteed downside protection, as these strategies often need time to respond to changing conditions and can struggle with sudden sell-offs or whipsaw markets. MATE will also retain significant equity exposure, and its 0.95% charge is a considerable premium to conventional passive ETFs. Batchelor noted that MGIN offers another potential diversification source, although listed infrastructure companies are not immune to equity market weakness.
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