business

Hedge fund takes short bet against Bank of Ireland worth almost €50m

Marshall Wace, co-founded by British right-wing supporter Paul Marshall, has bet against 0.5 per cent of the bank’s shares

Paul Marshall, co-founder, Marshall Wace: The hedge fund management firm has $55 billion in assets under management

Marshall Wace, one of the world’s largest hedge fund management firms, has taken a substantial short bet against the shares of Bank of Ireland, new stock exchange filings show.

The firm, which has $55 billion in assets under management, has a bet against 0.5 per cent of the bank’s shares that is worth almost €50 million at the bank’s current share price of just over €9.

A short trade is a risky bet in which ...