Hedge fund group Marshall Wace selects State Street
23 April 2010 Dublin
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State Street, has been appointed to provide investment services to hedge fund group Marshall Wace for its new equity-neutral exchange traded fund (ETF) MW TOPS Global Alpha. According to Marshall Wace, it is the first ETF targeting an absolute return from a single investment strategy and the first ETF in Europe to be run by a dedicated alternative asset manager.
The innovative fund, listed on the London and Frankfurt stock exchanges, provides exposure to a range of investment strategies, comprising mainly large-cap equities and equity-related securities. State Street's operations in Ireland will provide a comprehensive range of custody and fund administration services to the new fund.
Marshall Wace's decision was guided by State Street's experience in the ETF servicing marketplace, its global presence and local leadership in investment servicing, and its demonstrable expertise in supporting a complex, high volume, UCITS compliant, daily valuing fund.
"We are delighted to have been selected by Marshall Wace to provide investment services for this innovative new product," said Gavin Nangle, vice president and Head of Business Development for State Street in Ireland. "Marshall Wace is one of the leading forces in the alternatives segment of the market and we look forward to building a meaningful and long-term partnership with them."
The innovative fund, listed on the London and Frankfurt stock exchanges, provides exposure to a range of investment strategies, comprising mainly large-cap equities and equity-related securities. State Street's operations in Ireland will provide a comprehensive range of custody and fund administration services to the new fund.
Marshall Wace's decision was guided by State Street's experience in the ETF servicing marketplace, its global presence and local leadership in investment servicing, and its demonstrable expertise in supporting a complex, high volume, UCITS compliant, daily valuing fund.
"We are delighted to have been selected by Marshall Wace to provide investment services for this innovative new product," said Gavin Nangle, vice president and Head of Business Development for State Street in Ireland. "Marshall Wace is one of the leading forces in the alternatives segment of the market and we look forward to building a meaningful and long-term partnership with them."
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