State Street, a global provider of financial services to institutional investors, has been appointed to provide investment services to London-based hedge fund group Marshall Wace for its new equity-neutral exchange traded fund (ETF) MW Tops Global Alpha.
According to Marshall Wace, the new ETF targets an absolute return from a single investment strategy and the ETF will be run by a dedicated alternative asset manager.
The 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.
Gavin Nangle, vice president and head of business development in Ireland at State Street, said: “We are delighted to have been selected by Marshall Wace to provide investment services for this innovative new product. 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.”