Unlock the Editor’s Digest at no cost
Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter.
Izzy Englander’s hedge fund Millennium Administration gained 2.5 per cent in December, bringing returns for 2024 to fifteen per cent, in line with buyers.
The agency is without doubt one of the most outstanding multi-manager hedge funds, managing $72.1bn throughout greater than 320 funding groups and buying and selling a variety of methods.
Multi-manager hedge funds sometimes organise merchants throughout a wide range of asset lessons, all managed by a centralised threat system designed to stop large losses.
Englander nonetheless owns 100 per cent of Millennium, which he based in 1989 with belongings of simply $35mn. Millennium and Ken Griffin’s Citadel are pioneers of multi-manager funds, which lately have been the fastest-growing nook of the $4.5tn hedge fund trade.
Millennium’s returns final yr lagged these of the S&P 500, the index of US blue-chip corporations, which rose 23 per cent on the again of massive positive factors for a handful of tech corporations.
Millennium declined to remark.
