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 charge cuts, in response to an individual acquainted with the returns.
Citadel’s multistrategy flagship Wellington fund climbed 1.9% in January, following a 15.3% acquire final 12 months, in response to the individual, who spoke anonymously as a result of the efficiency numbers are non-public. All 5 methods used within the fund — commodities, equities, fastened earnings, credit score and quantitative — had been constructive for the month, the individual 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 individual. In the meantime, Citadel’s world fastened earnings fund returned 1.7%.
Citadel declined to remark.
The inventory market had rallied to start out the 12 months, however the momentum currently eased as hopes for charge cuts pulled again. Federal Reserve Chair Jerome Powell mentioned in late January {that a} March charge reduce is unlikely, triggering the largest every day loss since September for the S&P 500. The fairness benchmark was up 1.6% for January.
The Citadel CEO just lately spoke positively of the U.S. financial system, seeing the Federal Reserve engineering a gentle touchdown this 12 months. He mentioned the general financial system appears to be like “fairly rattling good” proper now, with current information indicating a strong labor market, wholesome GDP progress and inflation moderating at a greater tempo than anticipated.
The hedge fund large began 2024 with $56 billion in property beneath administration.
Do not miss these tales from CNBC PRO: