Reported about 18 hours ago
Point72 Asset Management, led by billionaire Steve Cohen, plans to return between $3 billion and $5 billion to its clients after achieving substantial profits in 2024. The firm, which recorded around 19% returns last year, will be implementing changes that may increase costs for investors, marking a trend in the hedge fund industry where large firms are managing excess cash while smaller funds are struggling to attract investments.
Source: YAHOO