Man Group, the hedge fund giant, has launched a new long/short equity fund of hedge funds exclusively for the high net worth clients of top-tier brokers and advisors with an investment minimum of $50,000.

The fund, the Man Long Short Fund, is managed by the firm’s multi-manager business at US-listed Man Investments, which had roughly $12.7 billion in funds under management at the end of last month.

The fund gives access to up to 30 long/short equity managers across the globe as well as monthly liquidity and tax reporting to investors.

“The fundamental justification for the long/short equity approach is not simply that tactical shifts in net exposure to equities can add value, the very existence of a 'short book' is essential to help ensure a degree of downside protection in the event of an abrupt market reversal," said Robin Lowe, head of equities at Man Investments, based in New York.