(Bloomberg) -- Millennium Management shuttered two index-rebalancing pods in Asia this month, said a person with knowledge of the matter.Most Read from...
The first was led by Shao Ying and the second by Zachary Corones , said the person, who asked not to be identified discussing private information. Both Hong Kong-based portfolio managers are leaving the firm.
Hedge fund platforms like Millennium and Balyasny Asset Management LP allocate capital among pods trading with different strategies. They keep a close tab on the amount of losses each can sustain before its trading risk is curtailed or the team is shuttered. The approach allows the firms to post steady returns, even when individual pods suffer losses in times of market swings.
Erling Haaland is phenomenal and on course to break all sorts of records in English football after taking his tally at Manchester City to 94 in 101 games, but he still does not escape Pep Guardiola’s critical eye.French judicial authorities on Sunday extended the detention of the Russian-born founder and chief of Telegram Pavel Durov after his arrest at a Paris airport over alleged offences related to the popular but controversial messaging app.
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