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☆ Schonfeld is leading its peers a year after the $11.6 billion firm ended tie-up talks with Millennium. How the industry's biggest funds did in October.
▼ + stars: | 2024-11-04 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Schonfeld is up by 15.5% for the year in its flagship fund. They said the flagship fund had been up in 17 of the past 18 months. AdvertisementOctober was a strong month generally for the large multistrategy managers that have dominated industry headlines in recent years. Ken Griffin's Citadel was up by 1.2% last month in the firm's flagship Wellington fund, a person close to the Miami-based fund told Business Insider. AdvertisementMillennium, meanwhile, made 0.4% last month, pushing its annual return to 10%, a person close to Izzy Englander's firm said.

Persons: Schonfeld, —, Ken Griffin's, Izzy Englander's Organizations: Citadel, Service, Schonfeld Strategic Advisors, Partners, Equity, Microsoft, Business, Ken Griffin's Citadel Locations: York, Wellington, Miami

☆ ExodusPoint led multistrategy hedge funds in September. Here's where rivals like Citadel, Millennium, and others stand.
▼ + stars: | 2024-10-02 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +2 min

ExodusPoint led multimanager hedge funds with a 1.5% gain last month and is up 6.5% in 2024. Millennium and Schonfeld had strong returns; Citadel, Balyasny, and Walleye lagged behind. AdvertisementIn the last month before a new cash hurdle forces the firm to outperform for performance fees, ExodusPoint led the way among multistrategy hedge funds. The $11 billion manager was up 1.5% last month, bringing its 2024 numbers to 6.5%, a person close to Michael Gelband's fund said. The firm was down 0.2% last month, though it is still up 11.1% on the year, a person close to the firm said.

Persons: ExodusPoint, Schonfeld, —, Michael Gelband's, Ken Griffin's Organizations: Citadel, Walleye, Service, Business Locations: Balyasny, York, Wellington, Miami

☆ Ken Griffin’s Wellington hedge fund at Citadel squeezes out 1% gain in volatile August
▼ + stars: | 2024-09-04 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's suite of hedge funds at Citadel eked out small gains in what proved a volatile month in August as markets grappled with an emerging growth scare. All five strategies used in the flagship fund — commodities, equities, fixed income, credit and quantitative — were positive for the month, the person said. Its equities fund, which uses a long/short strategy, edged up 0.8%, pushing its 2024 returns to 9.3%. The hedge fund complex had about $63 billion in assets under management as of Aug. 1. Overall, the hedge fund community recently moved into a defensive mode as macroeconomic uncertainty mounted.

Persons: Ken Griffin, The Beverly Hilton, Ken Griffin's, Citadel's, Goldman Sachs Organizations: Citadel, Milken Global, The Beverly Locations: Beverly Hills , California, Wellington, Miami

☆ Hedge funds post mediocre first-half performance with some big names only up single digits
▼ + stars: | 2024-07-09 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

So far this year, hedge fund managers have failed to beat the S & P 500 , one of the cheapest, easily available investment vehicles for ordinary investors. Hedge funds returned just 5% in the first half of the year after a 0.2% loss in June, with event-driven strategies the biggest laggards, according to data firm HFR. The performance may come as a disappointment as hedge funds often tout star stock pickers and niche strategies to justify their high fees. Hedge funds typically charge a 2% management fee on the total assets under management plus a performance fee of 20% of the fund's profits. Goldman Sachs' prime brokerage data showed hedge funds have been rotating out of tech stocks, especially winning chipmakers over the past few weeks, while pouring into financial stocks and commodities.

Persons: Hedge, Morgan Stanley's, Bill Meany, Morgan Stanley, Goldman Sachs, Ken Griffin's, Bill Ackman's Pershing, Dan Loeb's, Cliff Asness, AQR Organizations: Citadel, Apex, Equity Locations: Wellington

☆ In a rare stumble, Citadel loses money in May as peers gain. Here's how hedge funds performed last month.
▼ + stars: | 2024-06-04 | by ( Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Ken Griffin's $63 billion Citadel lost 0.8% in May, several people told Business Insider. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The $63 billion Miami-based hedge fund, crowned by LCH Investments as the most profitable hedge fund of all time, lost 0.8% last month in its flagship Wellington fund, several people told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Ken Griffin's, — Organizations: Citadel, Business, Service, LCH Investments, Nvidia Locations: Miami, Wellington

☆ Citadel's Ken Griffin says the Fed shouldn't cut too quickly, citing big tailwinds supporting inflation
▼ + stars: | 2024-03-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Ken Griffin, Citadel founder and CEO, thinks the Federal Reserve should move slowly to cut interest rates in its fight against stubborn inflation. "If I'm them, I don't want to cut too quickly," Griffin said at the International Futures Industry conference in Boca Raton, Florida on Tuesday. "The worst thing they could end up doing is cutting, pausing and then changing direction back towards higher rates quickly. So we've got two big, big tailwinds that continue to support the inflation narrative," Griffin said. While the inflation rate is well off its mid-2022 peak, it still remains well above the Fed's 2% goal.

Persons: Ken Griffin, Griffin, we've Organizations: Citadel, Reserve, International Futures Industry, Boca, Fed Locations: Boca Raton , Florida, multistrategy Wellington

☆ Schonfeld's strong start to 2024 has the once-imperiled manager besting larger peers
▼ + stars: | 2024-03-05 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The $10 billion manager returned 1.5% last month in its flagship fund, pushing its 2024 returns to 3.3% for the year, sources close to the firm told Business Insider. Since September, when Schonfeld was drumming up cash and cutting costs, the firm has returned 6.2% in its flagship fund and 7.4% in fundamental equity. Its 2023 performance to date has the New York-based manager leading its multi-strategy peers, including Millennium and Ken Griffin's Citadel. AdvertisementBalyasny, which trailed peers in 2023, was flat last month, while Michael Gelband's ExodusPoint was up 0.7%.

Persons: —, Schonfeld, Griffin's, Steve Cohen's Point72, Michael Gelband's ExodusPoint Organizations: Service, Schonfeld Strategic, Millennium, Business, Investors, Griffin's Citadel, Citadel Wellington Locations: Asia, York, Wellington

☆ Ken Griffin’s Citadel hedge fund rose 1.9% in January as volatility ramped up
▼ + stars: | 2024-02-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's flagship hedge fund rose last month as volatility made a return amid the debate about rate cuts, according to a person familiar with the returns. All five strategies used in the fund — commodities, equities, fixed income, credit and quantitative — were positive for the month, the person said. The Miami-based firm's tactical trading fund gained 2.6% for the month, while its equities fund, which uses a long/short strategy, returned 2.1%, said the person. Meanwhile, Citadel's global fixed income fund returned 1.7%. The hedge fund giant started 2024 with $56 billion in assets under management.

Persons: Ken Griffin's, Citadel's multistrategy, Jerome Powell, Griffin Organizations: Citadel, Federal, Federal Reserve Locations: Wellington, Miami, U.S

☆ The latest way workers want to upend the workplace is a blast from the past
▼ + stars: | 2024-02-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

What's on deck:This story is available exclusively to Business Insider subscribers. Long considered the bane of white-collar workers' existence, people now view cubicles as a sanctuary instead of a jail cell. AdvertisementCalling for a return to the cubes might seem odd when so many are pushing to evolve the workplace. Experts told Business Insider that a wave of retiring Boomers means the generation will soon be at "peak burden" to the economy. Get in touchAdvertisementinsidertoday@insider.comTo read unlimited articles, subscribe to Business Insider.

Persons: —, It's, Rebecca Zisser, Long, Kelli María Korducki, haven't, Korducki, cubicles, Ken Griffin, Vernon Yuen, Jerome Powell, Donald Trump, buybacks, Tammi Jantzen, Joe Rogan, Both Rogan, BI's Peter Kafka, Jenny Chang, Rodriguez, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Business, Corporate, Citadel, Getty, Federal Reserve, Deutsche Bank, Spotify, Bureau of Labor Statistics, Boomers, Caterpillar Inc Locations: Silicon Valley, Wellington, Astarte, China, New York, London

☆ Citadel is on top, and Schonfeld is picking up steam. Here's how hedge funds kicked off the new year.
▼ + stars: | 2024-02-02 | by ( Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Hedge funds are off to a good start in 2024 after mediocre performance last year. January returns were strong at multi-strategy managers like Citadel, Point72, and Millennium. A leaner Schonfeld closed out a rough 2023 on high note, and it's kept the momentum going in 2024. In 2023, even the best multi-strategy hedge funds trailed the broader stock market. Citadel led its peers with a 15.3% gain last year, but the S&P 500 notched a total return of 26.3%.

Persons: it's, Ari Glass Organizations: Citadel, Business Locations: Point72, Wellington

☆ Ken Griffin is on top of the hedge fund world. Read his memo to the Citadel team.
▼ + stars: | 2024-01-22 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

Read previewAnother big year for billionaire Ken Griffin and Citadel has extended the lead the Miami-based money manager has over its peers. It brought the firm's all-time gains to $74 billion, close to $20 billion more than the two firms tied for second all-time, D.E. The two firms have generated $56.1 billion in profits since they launched, according to the rankings. In an internal memo titled "Citadel Widens Lead as Most Profitable Hedge Fund of All Time," Griffin wrote, "We not only retained the #1 ranking, but we also more than doubled our lead over our closest competitors in the past year." Citadel confirmed the contents of the memo but declined to comment further.

Persons: —, Ken Griffin, Shaw, Ray Dalio's Bridgewater, Edmond de Rothschild, Griffin Organizations: Service, Citadel, Business, LCH Investments, Millennium, Bloomberg, LCH, Fund Locations: Miami, Connecticut, Wellington

☆ Ken Griffin’s hedge fund Citadel bucks the downtrend in September, up nearly 13% this year
▼ + stars: | 2023-10-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's flagship hedge fund rallied last month when the broader market was rattled by tight monetary policy as well as rising recession fears, according to a person familiar with the returns. Citadel's multistrategy flagship Wellington fund gained 1.7% in September, bringing its 2023 performance to 12.6%, the person said. The S&P 500 pulled back 4.9% last month, suffering its worst month of the year. Griffin, founder and CEO of Citadel, told CNBC last month he was skeptical that this year's rally, powered mostly by artificial intelligence-related stocks, can be sustainable. The Wellington fund soared 38% in 2022 for its best year ever.

Persons: Ken Griffin's, Citadel's multistrategy, Stocks, Pershing, Bill Ackman, Griffin Organizations: Treasury, Citadel, CNBC, Big Tech Locations: Wellington

☆ Summer is fading. But performance in August was hot at hedge funds including Citadel, D.E. Shaw, Millennium, and Sculptor
▼ + stars: | 2023-09-07 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Most managers posted positive performance, Sculptor and Citadel led the way. Shaw (+1.3%) also had strong performance. Multi-strategy fund managers remain as popular as ever. "Clearly right now the multi-strategy managers are very much in vogue. Here's how other top multi-strategy players stacked up after August:Fund August performance Year-to-date performance Sculptor Multi-Strategy 2.8% 12.6% Citadel Wellington 2% 10.8% Point72 0.83% 6.6% D.E.

Persons: Shaw, Ken Griffin, Here's, Marshall Wace Eureka Organizations: Citadel, Financial Times, Capital, Wellington Fund, Citadel Wellington, Shaw Locations: Wellington

☆ Hedge fund performance in July was muted. But Citadel distanced itself from Point72, Millennium, and other competitors.
▼ + stars: | 2023-08-04 | by ( Alex Morrell | ) www.businessinsider.com time to read: +1 min

Top multi-strategy hedge funds trailed the stock market in July. Citadel led the pack, gaining 1.3% last month and pushing its 2023 tally to 8.6%. Verition bested most of its peers, gaining 1.2% in July. The world's largest hedge funds, meanwhile, posted more muted gains. Among its multi-strategy hedge fund peers, Ken Griffin's $59 billion Citadel remains second to none, gaining 1.3% in July in its flagship Wellington fund.

Persons: Verition, Ken Griffin's, It's, Marshall Wace Eureka Organizations: Citadel, Citadel Wellington, Hudson, International, Representatives Locations: Wellington

☆ How Citadel, Millennium, Point72 and other hedge fund giants stack up as they enter the second half of a challenging year
▼ + stars: | 2023-07-06 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Hedge funds have reached the halfway point in a challenging year. The first half of 2023 was not how hedge fund managers drew it up. They invested heavily in global macro hiring late last year, expecting plenty more runway in the strategy's revival after a blockbuster 2022. Overall, the hedge fund industry lags far behind, gaining just 1.23% through May, according to the HFRI Fund Weighted Composite Index. Citadel's strength has been one of the few certainties in an otherwise uncertain year for hedge funds.

Persons: Ken Griffin's, Izzy Englander's, Here's, Steve Cohen's Point72 Organizations: Millennium, Suisse, HFRI, Ken Griffin's Citadel, Citadel Wellington, Carlson, Global Locations: Wellington

☆ How Citadel, Millennium, D.E. Shaw, and Other Hedge Funds Fared in May
▼ + stars: | 2023-06-07 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

This year, it remains the top-performing multistrategy fund, just ahead of Steve Cohen's Point72. Here's how multistrategy hedge fund giants fared in May, from Citadel to Millennium. Billionaire Ken Griffin's Citadel continues to lead the competitive multistrategy hedge fund performance race this year, despite being bested for the month of May by Izzy Englander's hedge fund. Returns are still rolling out, but the major hedge fund players did not see major movements within their flagship funds. In other hedge fund news: London-based hedge fund Marshall Wace's Eureka flagship fund, an equity fund managed by founder Paul Marshall, climbed 1.74% in May and is up 1.70% year to date.

Persons: Ken Griffin's, Steve Cohen's Point72, Ken Griffin's Citadel, Izzy Englander's, Marshall, Paul Marshall Organizations: Millennium, Point72, Wellington, Nvidia, Tactical Trading Locations: Citadel, Wellington, Miami, London

Firms that concentrate on stocks, however, rode a late month market rally to small gains, according to investors and industry data. Many hedge funds are still compiling March and first quarter numbers, but preliminary reports from research firm Hedge Fund Research showed the average hedge fund was off 1% last month and ended the quarter flat. The macro hedge fund is down nearly 9.5% year-to-date through March, the source added. The Balyasny Atlas Enhanced fund gained 0.8% in March and is up 1% for the year. A Goldman Sachs report, based on returns posted by the bank's prime brokerage's clients, showed fundamental long/short funds gained 1.04% in March.

☆ Multi-strategy hedge funds had mixed results for a mad March. Here's how Citadel, Millennium, and Point72 did.
▼ + stars: | 2023-04-04 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

Multi-strategy hedge funds had a mixed March after the Silicon Valley Bank collapse put markets on edge. The Citadel Wellington fund ended the month up 1.38%, while Steve Cohen's Point72 was up 1.33%. Equities was up 2.16% in March, bringing year-to-date performance to 4.56%. Its global fixed income fund returned 0.12% in March, bringing year-to-date performance to 1.77%. Hedge fund performance figures are still trickling out, but data and reports suggest that trend-following and macro funds were caught out after the banking crisis rocked markets.

☆ Citadel accelerates hiring push in Hong Kong and London
▼ + stars: | 2023-03-17 | by ( Summer Zhen | ) www.reuters.com time to read: +2 min

HONG KONG, March 17 (Reuters) - Miami-based Citadel has kicked off 2023 with multiple senior hires in London and Hong Kong to beef up its international equities team, after the firm became the world's most profitable hedge fund in 2022, profile updates on LinkedIn show. He previously worked as head of Asian Research of Florida-based hedge fund giant Lighthouse for more than seven years. After working for UBS investment bank for more than 16 years, Keith Donan also moved to Citadel in Hong Kong this month as a senior trader. Citadel's international equities team is a multi-manager business focusing on opportunities in Europe and Asia. Led by Sean Salji in London, the team has over 80 investment professionals in London, Hong Kong, Singapore and Paris.

☆ Ken Griffin's hedge fund Citadel takes a 5% stake in Western Alliance Bancorp amid banking turmoil
▼ + stars: | 2023-03-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's hedge fund Citadel has taken a 5.3% stake in Western Alliance Bancorp amid turbulence in the banking sector after Silicon Valley Bank's collapse, according to a regulatory filing released Monday . The hedge fund owns thousands of individual stocks and often trades in and out of positions quickly. WAL 5D mountain Western Alliance Bancorp The bank stock rallied more than 40% Tuesday following a 47% sell-off on Monday. On Monday, Western Alliance said it saw only "moderate" outflows , and its cash reserves exceed $25 billion. The hedge fund soared a whopping 38% in 2022, marking the firm's best year ever.

☆ Performance for top hedge funds including Citadel, Millennium, Point72 just dropped. An unlikely winner is at the top of the pile.
▼ + stars: | 2023-03-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

February performance figures show a mixed-bag at the top multi-strategy hedge funds. Citadel, continuing its winning streak, is up 2.8% so far, while Millennium is up just 0.5%. Some of the largest multi-strategy hedge funds had killer years in 2022 while much of the industry struggled. An unlikely winner is off to a torrid start after a challenging year in 2022: ExodusPoint is up 2.9% through February on the back of a 2% gain during the short month, according to people familiar with the matter. Citadel has continued its winning streak after record-breaking performance in 2022, up 2.8% this year, sources told Insider.

☆ Ken Griffin’s hedge fund Citadel is up again in 2023 following a record year
▼ + stars: | 2023-03-03 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Ken Griffin's flagship hedge fund matched the broader market's performance in the beginning of 2023 following a record year, according to a person familiar with the returns. Citadel's multi-strategy flagship Wellington fund gained 0.7% last month, bringing its 2023 performance to 2.8% through February, the person said. This year's gain comes after a stellar year for the hedge fund, which soared 38% in 2022, marking the firm's best year ever and outperforming its largest competitor, Millennium, by more than 3 to 1. Hedge funds aim to offer downside protection during market turmoil, and Citadel managed to shine during the worst chaos in the market in years. Citadel's equities fund, which uses a long/short strategy, is up 2.4% this year, while its global fixed income fund is higher by 1.6% so far in 2023, the person said.

In the last five years, multi-manager hedge funds averaged returns of 8.3%, outperforming the wider industry's 5.5%, the note seen by Reuters this week said. Hedge funds such as Citadel, Millennium Management and Balyasny Asset Management employ a multi-manager hedge fund model, according to investors and public filings. Barclays tracked 42 multi-manager hedge funds collectively managing over $290 billion in assets, two-thirds of which are in the United States, it added. Costs may run high, but the final amount they see back beats most other hedge funds. Multi-manager hedge funds have doubled assets under management since 2016, said the Barclays note.

☆ Hedge fund returns are rolling in. Here's how industry powerhouses like Citadel, Millennium, and Point72 performed in 2022.
▼ + stars: | 2023-01-06 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Hedge funds had a dismal year in 2022, but some firms still produced exceptional returns. Ken Griffin's Citadel had record revenues of $28 billion, as well as a 38.1% return from its main fund. Cliff Asness' AQR had a 43.5% return in its oldest fund and record results in 12 other funds, too. 2022 was a dismal year for the hedge fund industry. A few industry stalwarts — AQR, Citadel, and Rokos Capital— had record years.

☆ Hedge fund Citadel expects to return $7 bln in profits to clients - source
▼ + stars: | 2022-12-21 | by ( Carolina Mandl | ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Hedge fund Citadel expects to return about $7 billion in profits to its investors in the first week of January after a stellar performance this year, a source familiar with the matter said. Reuters reported this month that this year was shaping up to be one of Citadel's best years in terms of performance. The hedge fund firm, which manages $59 billion in assets, told investors its flagship Wellington fund returned roughly 32% through the end of November. It has returned more than $11 billion in the last five years as it is more focused on performance, not on capital growth, the source said. The Wall Street Journal first reported the expected capital return earlier on Wednesday.

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