Marshall Wace appoints State Street for new ETF

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Marshall Wace has appointed State Street as custodian and fund administrator to its new exchange-traded fund, the London and Frankfurt-listed MW Tops Global Alpha product.

According to Marshall Wace, the fund is the first ETF targeting an absolute return from a single investment strategy, and also the first in Europe to be run by a dedicated alternative asset manager. It provides exposure to a range of investment strategies, focusing primarily on large-cap equities and equity-related securities.

"Marshall Wace is one of the leading forces in the alternatives segment of the market and we look forward to building a