WorldQuant, Millennium Weigh Hedge Fund With Easy Access to Cash

WorldQuant and Millennium Management are considering setting up a hedge fund under their joint venture that would allow clients regular access to their money.

WorldQuant Millennium Advisors is looking at a potential capital raise for a strategy that complies with the European Union’s UCITS Directive, people with knowledge of the matter said, asking not to be identified discussing private information. The fund, which would follow a systematic equities-based strategy, would be the first such vehicle to be offered by either firm, one of the people said.