Man Group, the world's largest hedge fund company, has increased its interim dividend by 30% despite missing its asset growth targets and generating negative investment returns for the six months to September 30.

The London-listed company's board of directors increased the interim dividend to 24 cents (€0.19) a share, up from 18.4 cents for the same period in 2003. It said the move reflected confidence for the full year and the company's strong financial condition.