Saturday, 23 May 2015
Last updated 11 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…