Man Group extends funding for Oxford-Man Institute of Quantitative Finance
06 October 2022 – The University of Oxford and Man Group today announce that funding support for the Oxford-Man Institute of Quantitative Finance (“OMI”), a world-leading centre for interdisciplinary research in financial markets, has been extended for a further five years until at least 2027. This extension takes Man Group’s commitment to 20 years of continuous funding and underscores the firm’s commitment to ground-breaking machine learning research in quantitative finance.
The OMI opened in 2007, bringing together leading quantitative finance academics and research students alongside Man Group researchers based in the co-located Man Research Laboratory (“MRL”). The dual academic-commercial environment provided by the OMI and MRL was the first collaboration of its kind between a university and an investment management firm, and remains unique. Man Group has committed over £35 million in research funding since the OMI’s inception, and continues to be its primary partner. The OMI also benefits from significant funding from Research Councils UK and other academic funding sources.
In September 2021, Professor Álvaro Cartea was appointed Director of the Oxford-Man Institute. Under his leadership and following the COVID-19 pandemic, there has been a strong programme of in-person activity, including international conferences in Machine Learning, Quantitative Finance and Natural Language Processing, plus new initiatives such as the OMI visitor programme which has facilitated collaborations across the OMI, Man Group, other University of Oxford departments and scholars from across the globe. Direct engagement between Man Group and the OMI has also been strengthened by the resumption of in-person seminars and workshops, with Man Group researchers attending OMI events and research students presenting their work at the Man Group’s London headquarters.
Mark Jones, Deputy CEO of Man Group, with responsibility for quant and technology, says: “We congratulate Álvaro on his successful first year as Director of the OMI, and are delighted to continue supporting the OMI’s machine learning and quantitative finance research. The work undertaken at the OMI has had an extensive impact on a range of Man Group’s client investment programmes, including active risk overlays for systematic investment management, intelligent algorithms for trade execution and order-routing, and sophisticated methods for monitoring transaction costs and market impact.”
Professor Álvaro Cartea, Director of the Oxford-Man Institute, says: “I would like to thank Man Group for its support since I joined last year and am delighted that we are continuing our longstanding partnership. I would also like to extend a grateful acknowledgement to Anthony Ledford (Chief Scientist and Academic Liaison at Man AHL), my fellow academics, and the research students and visitors who have helped create the exceptional OMI research environment. Our focus at the OMI is on cutting-edge quantitative finance research and I am immensely pleased with the interest we have seen in our ongoing research efforts and developments. The OMI has another busy academic year ahead and I look forward to welcoming the next wave of students and visitors, as well as further collaborations with Man Group.”
Professor Stefan Zohren, Principal Quant at Man Group and Deputy Director of the Oxford-Man Institute, says: “The unique partnership between Man Group and the University of Oxford has helped the OMI establish itself as a pioneer in the emerging field of machine learning in finance. OMI researchers have produced highly relevant, novel research with practical applicability that has been adopted in industry across everything from execution to risk management. I am thrilled to be a part of this collaboration where the committed support from Man Group enables the OMI to continue to push the boundary of research in this field.”
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About the Oxford-Man Institute
The Oxford-Man Institute (OMI) of Quantitative Finance is a Research Centre within the Department of Engineering Science at the University of Oxford. Our academically outstanding research addresses fundamental problems in quantitative finance. Its researchers create new tools and methods that can give deeper insight into financial markets – how they behave, how they become stable or unstable, how to extract value from data at scales beyond human and how they could be made to work better. This is achieved through a unique combination of academic innovation and external engagement. Further information can be found at oxford-man.ox.ac.uk.
The Department of Engineering Science
The Department of Engineering Science, founded in 1908, is the only unified department in the UK which offers accredited courses in all the major branches of engineering, each year producing around 170 new engineering graduates. We were ranked 2nd for Engineering in the Times Higher Education World University Rankings 2021. We also have over 650 Postgraduate students, either MSc or DPhil, and our 130 academics have a substantial research portfolio in all the major branches of engineering and in emerging areas such as information engineering, biomedical engineering, energy and the environment. Much of our research is directly supported by industry and in the past 50 years over 50 start-up companies have originated from our research. www.eng.ox.ac.uk.
University of Oxford
Oxford University has been placed number one in the Times Higher Education World University Rankings for the sixth year running, and number two in the QS World Rankings 2022. At the heart of this success are the twin-pillars of our ground-breaking research and innovation and our distinctive educational offer.
Oxford is world-famous for research and teaching excellence and home to some of the most talented people from across the globe. Our work helps the lives of millions, solving real-world problems through a huge network of partnerships and collaborations. The breadth and interdisciplinary nature of our research alongside our personalised approach to teaching sparks imaginative and inventive insights and solutions.
Through its research commercialisation arm, Oxford University Innovation, Oxford is the highest university patent filer in the UK and is ranked first in the UK for university spinouts, having created more than 200 new companies since 1988. Over a third of these companies have been created in the past three years. The University is a catalyst for prosperity in Oxfordshire and the United Kingdom, contributing £15.7 billion to the UK economy in 2018/19, and supports more than 28,000 full-time jobs.
For more information see www.ox.ac.uk.
About Man Group
Man Group is a global, technology-empowered active investment management firm focused on delivering alpha and portfolio solutions for clients. Headquartered in London, we manage $142.3 billion* and operate across multiple offices globally.
We invest across a diverse range of strategies and asset classes, with a mix of long only and alternative strategies run on a discretionary and quantitative basis, across liquid and private markets. Our investment teams work within Man Group’s single operating platform, enabling them to invest with a high degree of empowerment while benefiting from the collaboration, strength and resources of the entire firm. Our platform is underpinned by advanced technology, supporting our investment teams at every stage of their process, including alpha generation, portfolio management, trade execution and risk management.
Our clients and the millions of retirees and savers they represent are at the heart of everything we do. We form deep and long-lasting relationships and create tailored solutions to help meet their unique needs. We recognise that responsible investing is intrinsically linked to our fiduciary duty to our clients, and we integrate this approach broadly across the firm.
We are committed to creating a diverse and inclusive workplace where difference is celebrated and everyone has an equal opportunity to thrive, as well as giving back and contributing positively to our communities. For more information about Man Group’s global charitable efforts, and our diversity and inclusion initiatives, please visit: https://www.man.com/corporate-responsibility
Man Group plc is listed on the London Stock Exchange under the ticker EMG.LN and is a constituent of the FTSE 250 Index. Further information can be found at www.man.com.
*As at 30 June 2022. All investment management and advisory services are offered through the investment “engines” of Man AHL, Man Numeric, Man GLG, Man Solutions / FRM and Man GPM.