Man purses or 'Murses' as they are called is nothing new. It's an accessory that just a few years ago would have called a man’s sexuality into question but it's every where these days and it is seen as a fashion statement!
Personally, i think it is great sense of style for men to carry bags if it is meant for work purposes or to carry around uncomfortable personal stuff, but carrying a 'Clutch bag' just only as an accessory for fashion statement? Am not so keen on that. If man wants to make a fashion statement then the bags he carries should be fashionable and trendy enough to serve these two purposes, Utility and style statement not just some fancy Louis Vuitton clutch bag under his armpit.
That said, i think it depends on how it is used. It is definitely uncomfortable to have lots of things shoved into your pocket and having to adjust them every now and then during the day. A better option would be to go for a small bag where these items can fit into, perfect for everyday use and at the same time for speaks well of your style. Some men pull it off much more that some so it also depends on the man himself, his charisma, body carriage and personal style. It is best you find out first how well you can pull it off or how good it would look on you first before you try using it.