Oh man, we're out of the FTSE 100!

Today is a sad day for the directors and owners of listed hedge-fund manager Man Group, because it was expelled from the blue-chip FTSE 100 index of elite British companies.

Demoted to the FTSE 250
Four times a year, the FTSE indices are reshuffled, with companies moving into and out of the FTSE 100, FTSE 250 and FTSE All-Share indices, based on whether their market values have risen or fallen.