Millennium is an alternative investment management firm that solely advises private investment funds. The financial advisor strives to incorporate diverse investment strategies, asset classes, industry sectors and geographies, according to its website.
Millennium currently oversees tens of billions in assets under management (AUM). The firm has fee-only compensation arrangements, meaning it earns compensation for the services it provides, not for the products it sells. Millennium’s compensation arrangements consist of asset-based and performance-based fees. This firm has more2,000 advisors.
Millennium Management Background
Millennium is a Delaware limited liability company that’s been in business since 1989. The firm’s main focus is investment management, and it has offices inthroughout the U.S., Europe and Asia.
Chairman and CEO Israel Englander is the firm’s principal, directly or indirectly controlling 100% of the firm.
Millennium Management Client Types and Minimum Account Sizes
Millennium primarily serves private funds, rather than individual clients. The firm states in its firm brochure that minimum account sizes can vary, but doesn't provide specific dollar amounts.
Services Offered by Millennium Management
Millennium specializes in discretionary investment advisory services for private funds and pooled investment vehicles.
Millennium Management Investment Philosophy
For its Millennium Partner funds, the firm uses investment strategies that are global in scope and broadly diversified, according to its brochure. Millennium’s four primary investment strategies include relative value fundamental equity, equity arbitrage, fixed income strategies and quantitative strategies.
Millenniumsays it aims to provide the alternative investment industry’s highest returns while abiding by its core principles of integrity, discipline and excellence.
Millennium Management Fees
Millenium generally charges its investment funds asset-based fees and performance-based fees, but the firm doesn’t provide fee schedules or specific rates on its brochure. Performance-based fees are payable annually, and asset-based fees are payable quarterly in advance.
What to Watch Out For
Millennium has sixdisclosures reported on its Form ADV. The majority of the disclosures are minor regulatory action violations; however, it’s important to note that the firm paid a fine of $300,000 for an alleged U.S. Securities and Exchange Commission rule violation in 2017.
Potential investors should also note that this firm only serves private funds and pooled investment vehicles. If you’re looking for a firm that serves individual clients, our free financial advisor matching tool can help. Lastly, the use of performance-based fees can incentivize the firm to take on additional risk in an attempt to generate higher returns and more revenue.
Opening an Account with Millennium Management
If you’re interested in investing with Millennium, you’ll have multiple options for getting in touch. You can either visit any of the firm’s locations, or you can contact the firm at (212) 841-4100.
All information is accurate as of the writing of this article.
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FAQs
Last year alone it hired 300 people, of whom 180 were classified broadly as "investment staff." This doesn't imply that getting into Millennium is easy. The fund doesn't run a graduate program; nor does it take investment professionals who don't have a track record.
Is Millennium Management a good company? ›
Millennium has an employee rating of 4.7 out of 5 stars, based on 210 company reviews on Glassdoor which indicates that most employees have an excellent working experience there.
What is the minimum investment for Millennium Management? ›
The minimum purchase is $25,000, although Millennium in its discretion can accept a minimum investment of $15,000 during the initial six months of the offering.
What is the Millennium Management fee? ›
Izzy Englander's Millennium Management has changed its terms to ensure that clients always pay a minimum fee, even if the hedge fund loses money. They will now pay annual fees of about 1% of assets or 20% of investment gains — whichever is greater, according to a client letter seen by Bloomberg.
How much do Millenium portfolio managers make? ›
The average Portfolio Manager base salary at Millennium is $168K per year. The average additional pay is $32K per year, which could include cash bonus, stock, commission, profit sharing or tips.
How hard is it to get a job at a hedge fund? ›
Hedge funds employ some of the best-paid business professionals anywhere, but landing your first job in the industry is no cakewalk. Building a hedge fund career takes determination, networking stamina, and a fierce competitive streak. Here are some steps to help get you to that interview and then land that job.
Does Millennium Management pay well? ›
Millennium Management pays an average salary of $150,000 per year.
Who is the number one asset manager in the world? ›
BlackRock remains the world's largest asset manager overall.
What is the dress code for Millennium Management? ›
What is the dress code at Millennium Management? Business casual.
Can I take my money out of Millennium Trust Company? ›
Send millennium trust company withdrawal request via email, link, or fax. You can also download it, export it or print it out. Send millennium trust company withdrawal request via email, link, or fax.
Bonds and money market accounts may be a good option for those with more conservative risk tolerance. Treasury bonds and municipal bonds typically offer lower returns but come with less risk. With a bond paying a 2% interest rate, a $1 million investment could earn you $20,000 per bond pay interest income annually.
Is 42 too late to start investing? ›
It's never too late to get started. The good news for investors in their 40s is that while your time horizon may be shrinking, there's still plenty of time to make up lost ground if you're an investing late bloomer.
Is Millennium Management a hedge fund? ›
Millennium Management is an investment management firm with a multistrategy hedge fund offering. In 2023, it was one of the world's largest alternative asset management firms with over $61.1 billion assets under management as of January 2024. The firm operates in America, Europe and Asia.
What does the Millennium Management Company do? ›
Our teams build and enhance investment processes that are primarily quantitatively driven and focused on a variety of asset classes, including global equities, interest rates, foreign exchange instruments, and commodity-linked derivative instruments.
Is Millennium an investment bank? ›
Millennium investment banking has been distinguished by Global Finance as the Best Investment Bank in Portugal for 2021. This Prize is of the sole responsibility of the entity that awarded it.
How much do Millennium Management interns get paid? ›
$68K (Median Total Pay)
The average Intern base salary at Millennium is $63K per year. The average additional pay is $6K per year, which could include cash bonus, stock, commission, profit sharing or tips.
How hard is it to be a hedge fund manager? ›
At least 10 years of investment experience and a proven performance record are required to become a hedge fund manager. Hedge fund managers need excellent investment, analytical, and stock-picking skills in order to effectively manage their fund and generate strong returns for investors and general partners.
What is Millennium Management known for? ›
Millennium is a global alternative investment management firm, founded in 1989, which manages more than $63 billion in assets. We seek to pursue a diverse array of investment strategies across industry sectors, asset classes, and geographies.
