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Citadel gains in January leading early 2023 hedge fund industry returns

Stock Markets Feb 06, 2023 04:51PM ET
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© Reuters. FILE PHOTO: Citadel CEO Ken Griffin speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/Mike Blake/File Photo
 
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By Svea Herbst-Bayliss

NEW YORK (Reuters) -Ken Griffin's Citadel extended its winning streak with gains in January, weeks after ending 2022 with a $16 billion gain, the biggest profit ever earned by a hedge fund.

Citadel's flagship Wellington fund posted a 2.08% increase in January, according to an investor. The fund climbed 4.8% in December and ended 2022 with a 38.1% gain, said the person, who requested anonymity to speak about the private fund's returns.

Citadel did not tell investors what fueled the gains. They did, however, top early returns from several rivals.

Tiger Global Management gained 2.1%, Point72 Asset Management reported a 1.31% gain in January, while Balyasny Asset Management was up 0.70% in January after having gained 10% last year. Other funds posted small losses. Millennium Management's International fund was off 0.43%. Representatives for the funds declined to comment.

After a brutal 2022 when fears of faster-paced interest rate hikes and geopolitical turmoil sent the S&P 500 tumbling 20%, early 2023 offered glimmers of hope for investors. There were signals that the pace of rate hikes may soon slow, which helped spark early gains. Some companies also posted strong earnings.

The S&P 500 gained 6.2% in January while the Nasdaq Composite index climbed 11%

Hedge funds are just now compiling their January numbers, and investors will be informed in the coming days, analysts said. The average hedge fund gained 2.12% through Feb. 2, according to data from Hedge Fund Research. The average hedge fund lost 4.20% last year.

Citadel gains in January leading early 2023 hedge fund industry returns
 

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Comments (2)
emilio ropelato
emilio ropelato Feb 06, 2023 5:27PM ET
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let's not forget citadel is market maker...for platform like robinhood...so they see all the retail activity( which exploded in 2021) and on the other side do hedge fund... conflict of interest at every level which they hav executed perfectly
Waldemar Gau
Waldemar Gau Feb 06, 2023 3:18PM ET
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Citadel stealing from other sHF now, more enemy for Citadel
 
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