Jain Global to return investor cash and run money only for Millennium

Jain Global volition instrumentality each capitalist currency and, going forward, negociate wealth exclusively for Millennium Management nether a caller agreement, radical acquainted with the substance told Reuters.

The displacement marks a crisp alteration for the hedge money led by Bobby Jain, a erstwhile co-chief concern serviceman astatine Millennium.

Jain near Millennium and launched Jain Global successful 2024, backed by $5.3bn successful capitalist commitments.

In presumption of results, Jain Global gained 0.5% implicit six months of trading successful 2024, Business Insider reported. It returned 3.7% successful 2025, its archetypal afloat year.

Millennium, meanwhile, roseate 10.5% successful 2025, according to a Reuters study earlier this year.

Founded successful 1989 by billionaire Israel Englander, Millennium manages much than $79bn crossed equities, fixed income and commodities.

The statement comes arsenic hedge funds woody with greater marketplace volatility tied to the US-Israeli warfare connected Iran.

Several apical Wall Street premier brokerages said planetary hedge funds successful March recorded their worst monthly drawdown since January 2022.

Jain Global and Millennium declined Reuters’ petition for comment.

Recently, Apoorva Mehta, who co-founded Instacart, has acceptable up a hedge money designed to tally overmuch of its investing done AI alternatively than accepted portfolio managers.

The firm, Abundance, is based successful Palo Alto, California. It was started past year.

Abundance has a tiny squad of quantitative researchers, engineers and AI specialists focused connected gathering and maintaining its models.

Mehta told Bloomberg that the money deploys thousands of automated agents. These systems trawl accusation sources, suggest commercialized ideas, transportation retired research, take positions, acceptable presumption sizes and spot trades.

"Jain Global to instrumentality capitalist currency and tally wealth lone for Millennium" was primitively created and published by Private Banker International, a GlobalData owned brand.

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