Marshall Wace Imposes Compensation Fee in Hedge Fund Talent War
- Hedge fund clients asked to pay an additional 0.75% charge
- Large competitors driving a bidding war for talent, firm says
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Hedge fund Marshall Wace is imposing a new fee on clients to pay for money managers as it looks to hire and retain top talent in a fiercely competitive recruitment market.
The London-based firm’s main $22.5 billion Eureka hedge fund is asking for an additional “compensation surcharge” worth as much as 0.75% of the fund’s value, according to an investor letter seen by Bloomberg. It will be used to reward those who outperform, it said.