Saturday, 29 November 2014
Last updated 21 hours ago
Aug 18 2010 | 2:01pm ET
The first-even listed single-manager hedge fund’s days are likely number. Investors in Marshall Wace Asset Management’s MW Tops fund voted Monday on the London-based firm’s proposal to shutter the vehicle and move its assets to a UCITS III-compliant, but unlisted, hedge fund it runs.
The majority of the fund’s shareholders are believed to be in favor of the plan, the Financial Times reports, with 75% approval needed. The fund manages £200 million, and if the plan is approved, the transfer could come as soon as October.
MW Tops debuted to great fanfare in December 2006, garnering well over US$1 billion in assets. But the fund suffered from a chronic discount to net asset value, and in October 2008, Marshall Wace gave investors an out, one of which 84% took advantage. Since then, the much-reduced fund has still struggled with the discount, which has averaged 9.4% over the past year.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...