A $28 billion hedge fund is pushing into machine learning

Man GLG, a UK hedge fund overseeing $28.8 billion of assets as of March 31, is embracing machine learning. The group has created a new position titled "head of machine learning." The new role will oversee development of Man GLG's machine learning capabilities involving news and social media analysis, breaking market news, and visualizing complex data. "We believe that machine learning techniques present an opportunity for discretionary investment managers, providing them with analytical tools to complement, and further enhance, their decision making processes," said Man GLG CEO Teun Johnston. "We are continually seeking to develop our offering for our clients and, as the amount of data available continues to expand, these techniques can supplement existing rigorous quantitative and qualitative analysis."