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Marshall Wace posts stellar returns
Marshall Wace looks set to post one of its best years, with a trio of key funds making strong double-digit gains in 2024.
The London firm, which manages $70.9bn, was up 22.6% in its market-neutral TOPS flagship in the year to 27 December. Its flagship Eureka product and Alpha Plus, a newer fund taking on the US multi-managers, were both up about 15%. Read more.
Millennium makes 15%
Millennium Management has ended the year up 15% after a 2.5% gain in December (FT). The $72.1bn multi-manager firm manages strategies across more than 320 strategies, a minority of which sit externally.
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D.E. Shaw to return capital after standout year
D.E. Shaw & Co. made 18% in its main multi-strategy Composite fund in 2024 and Oculus, its macro fund and second-largest in the New York firm’s range posted a record 36% gain (Bloomberg). The firm is now set to return some billions to clients, roughly half of last year’s profits from the two funds.
CTA’s end moderate year with gains
Price moves in FX and fixed-income helped trend-following CTAs end an up-and-down year on a high. Winton, Lynx Asset Management and Transtrend were among the winners. Read more.