Hedge fund majors Citadel and Millennium have posted solid gains in the first half of the year, continuing a strong performance trend for the multi-strategy firms that dominate the industry, according to a report by the Financial Times.
The report cites sources familiar with then matter as revealing that Ken Griffin's Citadel saw its flagship Wellington fund gain 8.1% by the end of June, while Izzy Englander's Millennium achieved a 6.9% increase. Although these figures fall short of the S&P 500's 15% gain over the same period, they are well ahead of the average hedge fund return of 5.2% up to the end of May, as reported by Hedge Fund Research.
Both Citadel and Millennium, managing $63bn and $67.7bn in assets respectively, aim to generate profits for investors regardless of broader market conditions, and notably, both funds profited in 2022 when the S&P 500 fell by 19.4%.
Their strong H1 performance means both Citadel and Millennium's strong are positioned to potentially exceed last year's returns. In 2022, Citadel's main fund rose by 38.1%, marking it as the most successful hedge fund of all time. Millennium saw a 25.9% increase in 2020.
Yen carry trade risks mount
Hedge funds and other leveraged investors face renewed risks from the yen carry trade as Japan moves further away from decades of…
More
Valour launches first crypto hedge fund using Neuronomics AI strategy
Valour, the digital asset investment products subsidiary of DeFi Technologies, has launched its first hedge fund as it expands beyond…
More
SocGen targets strong prime brokerage growth
Societe Generale is planning to significantly expand its prime brokerage business as part of Chief Executive Officer Slawomir Krupa's…
More