Ken Griffin’s Citadel hedge fund rose 1.9% in January as volatility ramped up

Ken Griffin, CEO of Citadel, at CNBC’s Delivering Alpha on Sept. 28, 2022.

Scott Mlyn | CNBC

Billionaire investor Ken Griffin’s flagship hedge fund rose final month as volatility made a return amid the talk about price cuts, in accordance with an individual accustomed to the returns.

Citadel’s multistrategy flagship Wellington fund climbed 1.9% in January, following a 15.3% achieve final yr, in accordance with the particular person, who spoke anonymously as a result of the efficiency numbers are personal. All 5 methods used in the fund — commodities, equities, mounted earnings, credit score and quantitative — have been optimistic for the month, the particular person mentioned.

The Miami-based agency’s tactical buying and selling fund gained 2.6% for the month, whereas its equities fund, which makes use of an extended/brief technique, returned 2.1%, mentioned the particular person. Meanwhile, Citadel’s international mounted earnings fund returned 1.7%.

Citadel declined to remark.

The inventory market had rallied to begin the yr, however the momentum these days eased as hopes for price cuts pulled again. Federal Reserve Chair Jerome Powell mentioned in late January {that a} March rate cut is unlikely, triggering the most important every day loss since September for the S&P 500. The fairness benchmark was up 1.6% for January.

The Citadel CEO not too long ago spoke positively of the U.S. economy, seeing the Federal Reserve engineering a smooth touchdown this yr. He mentioned the general financial system appears to be like “fairly rattling good” proper now, with latest knowledge indicating a strong labor market, wholesome GDP development and inflation moderating at a greater tempo than anticipated. 

The hedge fund large began 2024 with $56 billion in property below administration.

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