Marshall Wace is expanding into Asia in a joint venture with GaveKal Holdings, the researcher and money manager co-founded by Times columnist Anatole Kaletsky, as the first step in the hedge fund’s efforts to boost its actively managed funds.

Paul Marshall, chairman and co-founder of the London-based fund, has returned to an executive role to oversee a plan aimed at increasing the near-$3bn (£1.5bn) it runs in actively managed funds to match the $11bn it runs using broker tips.