• A pedestrian passes an advertisement for Yvonne S on Rue Francois Premier in Paris, France, on Friday. Local businesses in Paris's 8th district are looking forward to a new crowd of well-paid customers as New York-based hedge fund Millennium has leased space in the RTL radio station's old headquarters on Rue Bayard. | BLOOMBERG
    A pedestrian passes an advertisement for Yvonne S on Rue Francois Premier in Paris, France, on Friday. Local businesses in Paris's 8th district are looking forward to a new crowd of well-paid customers as New York-based hedge fund Millennium has leased space in the RTL radio station's old headquarters on Rue Bayard. | BLOOMBERG

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Nishant Kumar – The most successful idea in hedge funds is now simply strength in numbers.

Investors are plowing money into funds that don’t rely on the next macro genius or star stockpicker, but instead offer an army of traders who invest in an array of strategies. These behemoths secured pretty much all of the new money in the hedge fund industry last year, cementing a tectonic shift that’s accelerated since the pandemic.

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