Millennium Management and Modular Asset Management end partnership-report

Core Insights - Modular Asset Management, a macro hedge fund based in Singapore, will end its fund management relationship with Millennium Management by year-end, following over eight years of collaboration [1][2] - The termination allows Modular to diversify its investor base, reducing reliance on a single investor that previously constituted one-third of its assets [2] - Modular has grown its assets under management to nearly $1.6 billion, with a consistent performance record since its inception in January 2020, achieving positive returns in 81% of months [3] Financial Performance - Modular's hedge fund has returned almost 6% year-to-date through August [4] - Millennium Management's assets have doubled since the end of 2019, reaching $79 billion [4] Market Context - Geopolitical tensions have complicated the search for seasoned investors in Asia's macro trades [5] - Millennium has made significant investments in new ventures, including $1.5 billion to Aeonea and $1.2 billion to Optimas Capital Management [4][5]