The first semester is swimming for two great gods Fund hedge, Citadel and Millennium, extending their streak of outperforming the industry. This was revealed in the article Financial Times, which cites well-informed sources.
A look at the semester
Details: Ken Griffin’s Citadel (pictured), would see his main fund, Wellingtongaining 8.1% at the end of June, while Millennium di Izzy Englander would reach +6.9%. While these figures are lower than the S&P 500’s 15% gain over the same period, they are well above the 5.2% return hedge funds posted on average through the end of May, as reported by Hedge Fund Research.
The positive results achieved in the first half of the year give both hedge funds potential returns in 2024 compared to last year, when both multi-strategy funds established themselves as top performers in the sector. Specifically, Citadel’s Wellington fund returned +15.3% in 2023, while Millennium returned around 10%. Umbrella funds averaged just under 6% last year and +5.2% through May, according to data from PivotalPath.
Citadel and Millennium, which manage $63 billion and $67.7 billion in assets, respectively, also posted positive earnings in 2022, when the S&P 500 fell 19.4 percent.
How 2023 fared for the industry
After a disastrous 2022, 2023 was a recovery year for financial markets. But he still wasn’t kind to them fund hedge whose main purpose is usually to insure its investors high net worththe yield is higher than the market rate.
Instead, according to a recent survey conducted by BNP Paribas; During 2023, hedge funds had a global average return of 6.67%, 1.5% short of targets and well below the average of Wall Street’s major indexes. An example for everyone. The S&P 500 produced a 24% return last year.