Saturday, 20 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.