Marshall Wace Hedge Fund Reports 64% Profit Decline

The hedge fund co-founded by media mogul Sir Paul Marshall attributes the sharp drop to reduced performance fees and market challenges.

Marshall Wace, one of the UK's largest hedge funds, saw profits fall from £538 million to £192 million for the year ending February 2024, a 64% decline.
Revenues dropped from £1.2 billion to £768 million, with performance fees plunging by 73% due to underperformance of key funds in 2023.
The firm's flagship funds, Eureka and TOPS, posted modest returns of 4.6% and 7.7% in 2023 but rebounded in 2024 with returns of 14.3% and 22.6%, respectively.
Sir Paul Marshall, co-founder and chief investment officer, has expanded his media interests, acquiring The Spectator for £100 million and co-owning GB News, which surpassed Sky News in monthly ratings last year.
Marshall Wace manages over $71 billion in assets globally and employs more than 700 staff across six offices, including a recently opened location in Abu Dhabi.