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Stocks

US based Hedge Fund Millennium buys stake in Reliance Communications & Rural Electrification Corporation

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Rcom and REC

Integrated Core Strategies (Asia) – the Mauritius arm of the global investment management firm – Millennium Management purchased stake worth 86 crore (18,482,085 shares representing 0.75%) in Reliance Communications and 82 crore (5,092,346 shares representing 0.52%) in Rural Electrification Corporation.

Millenium Logo

Founded by Izzy Englander – Millennium Management LLC is a privately owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It launches and manages private funds investing in equity markets. The firm invests in public equity and fixed income markets across the globe. It also invests in derivatives including futures, contracts, and options. The firm also invests in asset backed securities and currencies to make its investments.

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