 Managers have the ability to shift from value to growth, from small to medium to large-capitalisation stocks, and switch from a net long position to a net short position.Managers can also use futures and options to hedge.In addition to its fundamental long/short equity strategies, Marshall Wace runs a proprietary alpha capture system called TOPS (Trade Optimised Portfolio System), which polls the investment ideas of equity sell-side practitioners (generalists, sector specialists, strategists, and economists) around the world and uses algorithms to analyse and optimise this information into liquid equity portfolios.