Ken Griffin's Citadel hedge funds achieved strong performance in 2024, with all funds posting double-digit returns. The firm's tactical trading strategy emerged as a standout performer, generating a 22.3% return for the year.
Billionaire investor Ken Griffin's handful of hedge funds at Citadel all posted double-digit returns in 2024, led by its tactical trading strategy.
Citadel's multistrategy Wellington fund, its largest, finished the year up 15.1%, according to a person familiar with the returns. All five strategies used in the flagship fund — commodities, equities, fixed income, credit and quantitative — were positive for the year, the person said. The Miami-based firm's tactical trading fund was the standout performer with a 22.3% return for 2024, the person said. Citadel's equity fund returned roughly 18%, while its global fixed income strategy gained 9.7% last year.> Sign up for NBC New York's News Headlines newsletter.
The stock market just closed out a banner year with the S&P 500 surging 23.3%, building on a gain of 24.2% in 2023. The two-year gain of 53% is the best since the nearly 66% rally in 1997 and 1998.The CEO also said he's not focused on taking Citadel Securities public in the foreseeable future. The securities firm is a Miami-based market maker founded by the 56-year-old Florida native in 2002.
FINANCE INVESTMENT HEDGE FUNDS MARKET PERFORMANCE CITADEL
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Citadel Hedge Funds Post Double-Digit Returns in 2024, Led by Tactical TradingKen Griffin's Citadel hedge funds all achieved double-digit returns in 2024, driven primarily by its tactical trading strategy. The firm's largest fund, Wellington, finished the year with a 15.1% return, with all five of its strategies (commodities, equities, fixed income, credit, and quantitative) showing positive performance. Citadel's tactical trading fund was the top performer, generating a 22.3% return. The news comes amidst a strong year for the stock market, with the S&P 500 surging 23.3% in 2024.
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