The Tops investment programme developed by UK hedge fund manager Marshall Wace helped push the firm to a 60% increase in turnover last year.

Turnover grew from £83m (€122m) to £133m for the 12 months to August 31 last year, according to the accounts of Marshall Wace filed at Companies House. Most of the increase arose from a rise in performance fees, which grew from £42m to £76m despite a fall in the returns generated by its flagship Eureka fund.