Point72 Asset Management, L.P. is an investment firm that only serves one particular client type -- investment funds. This fee-only firm has hundreds of advisors managing client assets, and the firm earns its compensation from asset-based fees and performance-based fees. Point72 currently manages just a small handful of funds.
If you’re looking for a firm that serves individual clients, this may not be the firm for you. SmartAsset'sfree financial advisor matching tool can help.
Point72 Asset Management Background
Formerly Stamford Harbor Capital, L.P., Point72 began its investment advisory operations in 2018. The Delaware limited partnership specifically shifted its focus to investment funds and pooled investment vehicles.The firm has offices in the U.S., Europe, Asia and Australia. Steven A. Cohen is Point72’s chairman, president and chief executive officer (CEO).
Point72 became indirectly embroiled in and hurt by a dramatic short squeeze by Reddit traders, many of whom used the Robinhood trading app, on hedge funds that had been shorting GameStock shares. That short squeeze extracted billions from hedge fund Melvin Capital, in which Point72 had invested. Point72 reportedly provided Melvin Capital with $750 million in emergency cash and lost nearly 15% from the successful short squeeze.
Point72 Asset Management Client Types and Minimum Account Sizes
Point72 primarily serves its investment funds. The firm currently manages about 19 funds, or pooled investment vehicles, according to its Form ADV. As for minimum account size requirements, Point72 minimums range from $25,000 to $25 million.
Services Offered by Point72 Asset Management
Point72 specializes in portfolio management services for pooled investment funds.
Point72 Asset Management Investment Philosophy
Point72 says in its brochure that it aims to achieve each fund’s investment objective by focusing on long/short equity, systemic and global macro investment strategies. The firm’s funds also focus on active investment strategies, leverage, commodities and cash and cash equivalents.
Point72 mainly invests in equities, secured and unsecured debt, futures, forward contracts, options, convertible bonds and preferred stock, derivative instruments, equity or fixed income related instruments and contracts for differences. The firm may also expand into cryptocurrencies: Published reports in May 2021 said Point72 was poised to make a major investment in cryptowith both long/short strategies on thehedge fund side and investments with its venture capital unit, Point72 Ventures.
Point72 Asset Management Fees
Point72 doesn’t specify an exact fee schedule for its investment funds, but the firm says annual rates typically range up to 2.85%.
What to Watch Out For
Point72’s Form ADV listsa fewregulatory action disclosures that involved its affiliates.One of them relates to an issue in2013 when a Point72 affiliate paid disgorgement, interest and a penalty to settle a civil complaint by the Securities and Exchange Commission.
This firm doesn't serve individual clients. To find a firm that does, consider using SmartAsset's free financial advisor matching tool.
Opening an Account with Point72 Asset Management
You can set up an account with Point72 by visiting any of the firm’s offices, or by contacting an advisor over the phone.
All information is accurate as of the writing of this article.
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FAQs
From the available information, Point72 appears to be a dependable and trustworthy broker. Nonetheless, like any investment, there is inherent risk involved, and it is crucial for traders to conduct their own research and carefully evaluate their options before making any investments.
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Yes, SmartAsset is a legitimate financial technology company, founded in 2012. The company provides personalized financial advice and tools to help individuals make informed decisions about their finances. They are well-respected in the financial industry and have received positive reviews from users.
Is it hard to get a job at Point72? ›
Candidates give an average difficulty score of 3.1 out of 5 (where 5 is the highest level of difficulty) for their job interview at Point72.
How prestigious is Point72? ›
Point72 is known for its highly selective Academy program, which puts recent college graduates through an intensive financial education curriculum facilitated by experienced professionals at the firm.
What is the acceptance rate for Point72? ›
Internships at top multistrategy hedge funds, including Balyasny Asset Management, Point72 Asset Management, Citadel and Millennium are among the hardest jobs to land on Wall Street with some acceptance rates below 1%, sources said.
Who is behind SmartAsset? ›
SmartAsset launched in July 2012 by CEO Michael Carvin and CTO Philip Camilleri as a Y Combinator startup company. The company's product offering initially revolved around home buying.
How does SmartAsset make money? ›
How Does SmartAsset Make Money? SmartAsset makes its money in two main ways: commissions and partnerships. Financial planners pay SmartAsset for directing potential clients their way. This amount depends on how much money the client has to invest.
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No Hidden Fees. Our service is completely free and it only takes a few minutes to get started. Don't worry - you have no obligation to work with any of your matches.
Does Point72 pay well? ›
The average Point 72 salary ranges from approximately $62,000 per year for Social Media Strategist to $263,000 per year for Program Associate. Salary information comes from 126 data points collected directly from employees, users, and past and present job advertisem*nts on Indeed in the past 36 months.
How much does a Point72 VP make? ›
The average Vice President base salary at Point72 is $169K per year. The average additional pay is $34K per year, which could include cash bonus, stock, commission, profit sharing or tips.
Is Point72 a good company to work for? Point72 has an overall rating of 4.3 out of 5, based on over 459 reviews left anonymously by employees. 88% of employees would recommend working at Point72 to a friend and 82% have a positive outlook for the business. This rating has improved by 1% over the last 12 months.
Is Point72 a hedge fund? ›
Point72 Asset Management, is an American hedge fund. It was founded in 2014 by Steve Cohen, after his previous company S.A.C.
What is Point72 performance fee? ›
DE Shaw also raised its fees for the Composite fund from 2.5/25% to 3/30% in 2019 following its robust performance. Point72 Asset Management charges a management fee of 2.85% and a performance fee of up to 30%, depending on its returns.
Does Point72 manage outside money? ›
Steven A. Cohen's Point72 Asset Management told clients it will close to new investments next month, after raising $10 billion since it started managing outside capital less than three years ago. Point72 was one of the biggest launches of 2018, when Mr.
What fees does Point72 charge? ›
Point72 Asset Management Fees
Point72 doesn't specify an exact fee schedule for its investment funds, but the firm says annual rates typically range up to 2.85%.
What is Point72 known for? ›
Point72 is a global asset management firm led by Steven A. Cohen that invests in multiple asset classes and strategies worldwide. We are constantly pursuing innovation in our investing processes to help deliver on our mission of producing superior risk-adjusted returns.
