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Cohen's Fund Returned a Measly 1% Last Year
[Photo: Douglas Healey for NYPost]
Steve Cohen’s Point72 Asset Management returned about 1% in 2016, the 2nd-worst annual performance ever for the billionaire investor. The family office, which runs Cohen’s personal fortune and invests across equity teams, suffered along with other multi-manager firms, which struggled to make money in stocks. When he was running his predecessor firm - SAC Capital Advisors – returns averaged about 30% annually, and its only losing year was 2008, when it dropped almost 28%.
2016 Performances of Other Multi-Manager Funds. If it’s any consolation, Cohen’s family office suffered along with other multi-manager firms, which struggled to make money in stocks.
Blackstone Group closed its 2-year old Senfina Advisors fund after it lost 24% in 2016.
Folger Hill Asset Mgmt, started in 2015 by Cohen’s former lieutenant Sol Kumin, fell 17% after a 3% loss in 2015.
Israel Englander’s Millennium Mgmt made 3.3%, its 2nd-worst year.
Citadel’s multi-strategy fund gained 5%, its 3rd-worst year.
