Friday, 31 October 2014
Last updated 9 hours ago
Dec 8 2006 | 3:14pm ET
London-based hedge fund Marshall Wace has raised €1.5 billion ($2 billion) in the initial public offering of its MW Tops Ltd, a Euronext-listed vehicle, for €10 per share.
MW Tops will invest in the firm’s Marshall Wace Tops Fund Opportunistic, which returned 15.1% in the first 10 months of the year, and the Marshall Wace Tops Fund Fundamental, which gained 13.3%, according to the firm.
The publicly-listed fund, which targets annual returns of between 12% and 16% annually after fees and expenses, will charge investors an initial fee equal to 1% of their investment and an annual management fee of 2%. MW Tops will also take one-fifth of all profits.
Marshall Wace, founded in 1997 by Paul Marshall and Ian Wace, manages some $10 billion.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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