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 more 2,000 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 in throughout 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.
Millennium says 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.
Learn more about advisors' typical costs here.
What to Watch Out For
Millennium has six disclosures 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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