Ken Griffin, founder and CEO of Citadel, speaks at the Milken Global Conference 2024 at The Beverly Hilton in Beverly Hills, California, on May 6, 2024.<\/p>\n
\n
Billionaire investor Ken Griffin’s suite of hedge funds at Citadel eked out small gains in what proved a volatile month in August as markets grappled with an emerging growth scare.<\/p>\n
Citadel’s multistrategy Wellington fund gained about 1% in August, bringing its year-to-date return to 9.9%, according to a person familiar with the returns,\u00a0who spoke anonymously because the performance numbers are private. All five strategies used in the flagship fund \u2014 commodities, equities, fixed income, credit and quantitative \u2014 were positive for the month, the person said.<\/p>\n
The Miami-based firm’s tactical trading fund rose 1.5% last month and is up 14.5% on the year. Its equities fund, which uses a long\/short strategy, edged up 0.8%, pushing its 2024 returns to 9.3%.<\/p>\n
Citadel declined to comment. The hedge fund complex had about $63 billion in assets under management as of Aug. 1.<\/p>\n
Volatility made a strong comeback in August as fears of a recession were rekindled by a weak July jobs report. On Aug. 5, the S&P 500 dropped 3%, its worst day since September 2022. Still, the market quickly bounced back, with the equity benchmark ending August up 2.3%. The S&P 500 is now ahead more than 15% in 2024.<\/p>\n
Overall, the hedge fund community recently moved into a defensive mode as macroeconomic uncertainty mounted. Hedge funds on net sold global equities for a seventh straight week recently, driven by sales of communication services plus financial and consumer staples stocks, according to Goldman Sachs’ prime brokerage data.<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":"
Ken Griffin, founder and CEO of Citadel, speaks at the Milken Global Conference 2024 at The Beverly Hilton in Beverly Hills, California, on May 6, 2024. David Swanson | Reuters Billionaire investor Ken Griffin’s suite of hedge funds at Citadel eked out small gains in what proved a volatile month in August as markets grappled…<\/p>\n","protected":false},"author":1,"featured_media":88913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-88912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n
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