MW TOPS Offers Investors Cash Exit

Oct 13 2008 | 1:31pm ET

Marhall Wace said last week it is offering investors in the MW TOPS fund a chance to cash out, calling its current share buyback program no longer an efficient means of creating liquidity, particularly in current market conditions.

“Since the launch of the company, MW TOPS Limited has worked actively to ensure optimum liquidity in the shares and to minimize the NAV tracking error,” said Andrew Large, chairman. “Current market conditions are extremely challenging in this respect. The board and the manager are in complete agreement that the interests of shareholders can best be served by proceeding with a cash exit exercise of this nature.”

MW TOPS was the first single manager hedge fund to list when in floated on Euronext in Amsterdam in December 2006. The TOPS master fund manages some US$7 billion in assets and the MW TOPS listed fund currently has assets of some US$1.4 billion.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note