Firms like Qube and Squarepoint are backing legions of human stockpickers. As mega hedge funds like Millennium, Citadel, and Point72 battle for the best stock-picking talent, another segment of the multi-trillion-dollar industry has joined the fray. Quant funds are increasingly turning to their longtime competition — human stock-pickers — to diversify their returns. Firms like Qube Research, Squarepoint Capital, and Engineers Gate are backing human traders through portfolios run by third parties, also known as separately managed accounts, or hiring them to trade internally. The firm's website lists eight different discretionary strategies compared to three systematic offerings and two hybrid strategies that blend the two.

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Persons: Squarepoint's Nicolas Janson, Nicolas Janson, Janson, Mike Daylamani, Steve Cohen, Zach Rieger, Daniel Schuster, Ernesto Cruz, Shaw Organizations: Citadel, Qube, Squarepoint, Engineers, Business, Sigma, Global Management Locations: Asia, Schonfeld, Point72