Asset Management

Steven A Cohen makes a move into index funds

Acorns Grow encourages users to make regular small-dollar contributions into a basket of exchange-traded index funds

Steven A Cohen makes a move into index funds
Photo: iStockPhoto

A hedge fund titan of active investing, Steven A Cohen, is making a bet on tiny investments in passive index funds.

Point72 Ventures, an early-stage venture fund backed by Cohen's Point72 Asset Management, has invested $2 million in Acorns Grow, a millennial-focused app maker that encourages users to make regular small-dollar contributions into a basket of exchange-traded index funds as a way to start saving.

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