Marshall Wace LLP is a

hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as s ...

based in

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

, founded by Paul Marshall and

Ian Wace Ian Gerald Patrick Wace (born January 1963) is a British financier who co-founded Marshall Wace Asset Management, a London-based hedge fund with Paul Marshall in 1997. He and Marshall, along with another hedge fund manager Arpad Busson, co-fou ...

in 1997. Marshall serves as chairman and chief investment officer, and Wace as a chief executive officer & chief risk officer. The company is recognized as one of the world's largest hedge fund managers.

Overview

Before starting the fund, Paul Marshall was Head of European Equities at

Mercury Asset Management Mercury Asset Management plc was a leading British investment management business. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. History The Company was established in 1969 when S. G. Warburg & Co., the ...

, whilst

was Head of Equities Trading at

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

. In 1997, Marshall and Wace launched Marshall Wace; they were managing $50 million — $25 million from

George Soros George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated mo ...

and $25 million sourced via family and friends. The firm manages more than $64 billion as of January 2022 and operates from fund management offices in

, New York,

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...

Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowin ...

, and

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

. The head office in London is situated on Sloane Street. The company is a founding member of the

Hedge Fund Standards Board The Standards Board for Alternative Investments (SBAI), formerly known as the Hedge Fund Standards Board, is an international standard-setting body for the alternative investment industry and sets the voluntary standard of best practices and pra ...

(HFSB) and a member of the Alternative Investment Management Association (AIMA). In August 2014, Marshall Wace made $36 million from going short on the collapse of the

Portuguese Portuguese may refer to: * anything of, from, or related to the country and nation of Portugal ** Portuguese cuisine, traditional foods ** Portuguese language, a Romance language *** Portuguese dialects, variants of the Portuguese language ** Portu ...

bank

Banco Espírito Santo Banco Espírito Santo (BES) was a Portuguese bank based in Lisbon that on 4 August 2014 was split in two banks: Novo Banco, which kept its healthy operations, and a "bad bank" to keep its toxic assets. It once was the second-largest listed Por ...

. In 2015

Kohlberg Kravis Roberts KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strate ...

agreed to buy a 24.9 percent stake in Marshall Wace. In 2020, Marshall Wace announced its plans to raise $1 billion for a new green hedge fund which will depend on the environmental and ethical attributes for trading stocks.

Investment approach

Marshall Wace manages several long-short equity funds.

Products

Marshall Wace runs a proprietary alpha capture system TOPS (''Trade Optimised Portfolio System''), which polls the investment ideas of equity sell-side practitioners (generalists, sector specialists, strategists, and economists) around the world and uses algorithms to analyse and optimise this information into liquid equity portfolios. The company's funds include

UCITS The Undertakings for Collective Investment in Transferable Securities Directive (UCITS2009/65/ECis a consolidated EU directive that allows collective investment schemes to operate freely throughout the EU on the basis of a single authorisation fro ...

-compliant vehicles.

Assets under management

References

External links

*
AIMA

Hedge Fund Standards Board
{{Hedge funds Hedge fund firms in the United Kingdom Hedge funds Financial services companies established in 1997 Investment management companies of the United States