Mon, Oct 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Millennium grows by almost 40% in second half of 2010, 2011 likely to remain favorable to large managers

Tuesday, February 08, 2011

amb
Izzy Englander
From Kirsten Bischoff, Opalesque New York:

Asset inflows across the hedge fund industry during 2010 are estimated at $22.6bn (Dow Jones Credit Suisse), with much of that flowing into larger funds.

Investors returning to hedge funds have been a boon for funds like NY/London-based, multi-strategy firm Millennium Management, which ended the year up 13.4% (NY Times) made steady asset gains during 2010, and contributed to much of the industry's $22bn+ recovery. According to one person close to the fund the firm's assets grew by almost 40% from $6.9bn mid year in 2010 to $9.6bn as of the end of January 2011.

Of this $2.7bn gain, $800m flowed into Millennium during December 2010 and $250m in January 2011. The firm has had a focused asset-raising drive underway since 2010, when it hired John Novogratz, who prior to that was at Fortress Investment Group as MD and Head of Capital Formation International in the firm's London offices.

End of quarter/end of year spikes are typical for many hedge funds to experience and with investors continuing to favor large funds, and the firm's 2010 performance surpassing its peers (DJCS Multi Strategy index returned 9.0% in 2010), it is reasonable to believe that Millennium will continue to grow at an impress......................

To view our full article Click here

Banner

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Roundtable: Where are all the good ESG hedge funds?[more]

    Benedicte Gravrand, Opalesque Geneva: What are the benefits of sustainable investing? Many pension funds look to focus on that angle to reflect their company’s good governance, but face many challenges while doing that. A portfolio manager at Univest, a large Dutch pension fund, discusses this is

  2. Bill Gross gives his first investment outlook for Janus fund[more]

    Bill Gross strikes a gloomy tone in his first note to investors at his new gig at Janus Capital. Bill Gross, the renowned bond fund manger, struck a pessimistic chord in his first note to investors at his new gig at Janus Capital. His notes, usually full of silly commentary and upbeat advice, took a

  3. Investing - Big investors move to shore up Fannie, Freddie trade, Two hedge funds eye $1bn support to Sahara to secure Subrata Roy's release[more]

    Big investors move to shore up Fannie, Freddie trade From Forbes.com: Two of the nation’s most prominent investors who have been leading the charge to make a big score out of the shares of Fannie Mae and Freddie Mac moved on Friday to shore up shares of the mortgage giants that plunged r

  4. Opalesque Exclusive: What's next for trend followers?[more]

    Bailey McCann, Opalesque New York: New research out from Ibbotson touches on a key debate happening among investors and fund managers, specifically whether long term trend followers can survive in the new

  5. Swiss insurance investment manager opens office in insurance traders' Mecca; London[more]

    Benedicte Gravrand, Opalesque Geneva: Twelve Capital, a swiss manager focused on insurance related investments, was authorised by the UK's Financial Conduct Authority (FCA) as a MiFID investment firm on October 1st and opened its new London office. "In an effort to enhance its investment