Jan
15
Cohen’s Fund Returned a Measly 1% Last Year
By-
Englander’s Millennium gained 3.3% last year, people said
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Steven Cohen
Photographer: Scott Eells/Bloomberg
Steve Cohen’s Point72 Asset Management returned about 1 percent in 2016, the second-worst annual performance ever for the billionaire investor, according to people familiar with the returns.
The family office, which runs Cohen’s personal fortune and invests across equity teams, suffered along with other multi-manager firms, which struggled to make money in stocks. The high correlation among equities for most of last year, caused in part by the billions of dollars that flowed into index and exchange-traded funds, hurt managers making significant wagers on falling shares…
Cohen’s Fund Returned a Measly 1% Last Year
