Citadel hedge fund’s profit reached 16 billion in 2022 setting record
2023.02.06 15:34
Citadel hedge fund’s profit reached 16 billion in 2022 setting record
By Tiffany Smith
Budrigannews.com – After finishing 2022 with a gain of $16 billion, the largest profit ever made by a hedge fund, Ken Griffin’s Citadel extended its winning streak with gains in January.
An investor says that Citadel’s flagship Wellington fund saw a 2.08 percent increase in January. The person, who requested anonymity to discuss the private fund’s returns, stated that the fund experienced a gain of 4.8 percent in December and ended 2022 with a gain of 38.1 percent.
Investors were kept in the dark about Citadel’s gains. However, they beat out a number of rivals’ initial returns.
Point72 Asset Management saw a gain of 1.31 percent in January, while Balyasny Asset Management saw a gain of 0.70 percent, up from a gain of 10 percent the previous year. Small losses were recorded by other funds. The International fund managed by Millennium Management lost 0.43%. The funds’ representatives declined to comment.
Early 2023 offered glimmers of hope to investors after a brutal 2022 marked by fears of faster-paced interest rate hikes and geopolitical turmoil that sent the market down 20%. Early gains were sparked by indications that the pace of rate hikes may soon slow. Strong earnings were also reported by some companies.
Analysts stated that investors will be informed in the coming days regarding hedge funds’ January numbers. The S&P 500 gained 6.2% in January, while the index gained 11%. According to data from Hedge Fund Research, the average hedge fund experienced a gain of 2.12% through February 2. Last year, the typical hedge fund lost 4.20 percent.
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