Marshall Wace Profit Up 20%

Dec 6 2012 | 11:30am ET

Marshall Wace Asset Management saw its profit soar 20% last year, on better performance and higher fee income.

The London-based hedge fund said its pre-tax profits for the year ended in February 2012 rose to £47.3 million from £39.4 million in the year-earlier period. Performance fee income jumped 10% to £60.6 million, as two of its hedge funds enjoyed double-digit returns over the period.

Assets under management also rose, by more than 30% to US$7.7 billion.

Staff costs rose, primarily due to performance bonuses, by 19% to £28.4 million. Marshall Wace's 13 partners, led by Paul Marshall and Ian Wace, split £6.2 million of the profits.


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