British hedge fund duo rack up £20m by betting against ailing Deutsche Bank
A London hedge fund has emerged as one of the big winners of the panic that engulfed Deutsche Bank last week – making tens of millions of pounds as shares in Germany’s biggest bank slumped.
Marshall Wace, whose boss Paul Marshall is a former Liberal Democrat donor and philanthropist, has been betting on the bank’s shares falling since at least February.
The $24billion (£18.5billion) fund, based off Sloane Square in Chelsea, uses a computer-driven investment strategy that decides what to wager depending on the recommendations of investment banking analysts.
In February, it told German... read more
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