Tue, Jul 7, 2015
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

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 Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds decline in June as stocks tumble on Greek woes[more]

    From Bloomberg.com: Hedge funds posted losses across strategies last month as uncertainty over whether Greece will remain in the euro sent global stock markets tumbling. Winton Capital Management declined about 3.1 percent in June in its $12.1 billion Winton Futures Fund, leaving it down 1.9 percent

 

banner