|European hedge fund manager Marshall Wace Asset Management has announced its plans to launch a new exchange-traded fund (ETF) that will track the firm’s flagship Tops TOPS funds. The new ETF, the Marshall Wace Tops Global Alpha, will be listed on London and Frankfurt exchanges and its index will reflect the holdings of the firm’s six Tops funds. By offering the Tops funds’ strategies as an ETF, Marshall Wace will be able to decrease its operations and rebuild its assets after a rush of client redemptions in 2009 while offering investors a low-volatility ETF that will grow to reflect investor demand.|
Marshall Wace was founded in 1997 by CEO Ian Wace and Chairman Paul Marshall. The Marshall Wace Tops (trade optimized portfolio system) strategy, which uses computer algorithms to sort buy and sell recommendations from hundreds of brokers every day, was developed in 2001 by Anthony Clark and Mr. Wace.