Bosses at Marshall Wace to get £316m: Hedge fund bosses to get payout after bumper trading during pandemic

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Marshall Weiss hedge fund owners have paid out a whopping £316 million after bumper trading during the pandemic.

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Documents show turnover rose to £958 million by February, up from £570 million in the previous year, following the ‘resilience’ display of its investments.

The profit share of £316m – divided among the 21 members of Marshall Weiss – is almost triple what was paid in 2020 of £116m. This means the top participants received an average of around £15 million.

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Hitting the right button: the profit share of £316 million – split among Marshall Weiss’s 21 members – is almost triple the £116 million payout in 2020.

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Marshall Weiss was co-founded in 1997 by pro-Brexit tycoons Sir Paul Marshall and Ian Weiss and now has $55 billion (£42 billion) in assets under management.

It specializes in finding companies with overpriced shares, then gambling that their value will fall – a process known as ‘short selling’.

The company was criticized for taking short positions against firms at the start of the pandemic after posting huge profits.

Other gainers include Crispin Ode’s Ode Asset Management, billionaire American investor Ken Griffin’s Citadel and AQR Capital co-founded by billionaire Cliff Asness.

Marshall Weiss’s biggest current short positions are against pub group Marston, plus retailers Asos, Boohoo and AO World.

The directors said: ‘There has been no material impact on the revenue and liquidity of the partnership.’

Last week, Marshall accused Citi of letting the stock market lag behind its rivals because investors are too obsessed with chasing dividends.

Marshall Weiss declined to comment.

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