Marshall Wace to Charge Clients for Costs of Hiring AI Talent

Stock-picking hedge fund Marshall Wace will start making clients pay for the rising costs of hiring and retaining technology, trading and risk personnel amid an intense war for talent.

The $82 billion firm told clients in its systematic TOPS funds they’ll face the new fee as soon as Jan. 1, according to an investor letter seen by Bloomberg. It’ll be in addition to the management and performance fees the funds already charge.