Marshall Wace launched its Global Financials Aggressive Fund in late June, and at this point, it looks on track to accomplish target annual returns of 30-50% -- it was up 10% gross as of late last week.
The fund complements the Marshall Wace Global Financials Fund, a market-neutral, geographically diversified fund, which has an 11-month track record and a gross return of 21% on 6-7% volatility. The funds manage $220 million between them.
The new fund is a 'best ideas' fund that looks exclusively at banks and financial institutions. It is more concentrated than ...