MW Tops, a fund managed by Marshall Wace LLP, the largest publicly traded closed-end hedge fund in Europe, was listed today on Euronext Amsterdam, raising €1.5 billion in a substantially oversubscribed placement of Euro, Sterling and Dollar denominated shares. The placement attracted widespread interest from institutional and private investors from Europe, the Middle East and Asia. In addition, further shares (up to an amount equal to 15% of the placement) may be issued to cover overallotment. Trading opened today at 9.00 am CET on Euronext Amsterdam.
The listing of MW Tops reinforces Euronext’s position as a gateway to international capital markets. MW Tops is the fourteenth company to be listed on Euronext Amsterdam this year and the largest hedge fund to be listed on Euronext’s markets. So far this year, Euronext has attracted 130 new listings raising a total of € 20.8 billion, resulting in an additional market capitalisation of € 89 billion.
TOPS is a process which collects and evaluates investment ideas generated across the securities industry, so as to create optimised portfolios which have historically delivered attractive risk-adjusted returns.
