From “CNBC”:

Billionaire investor Ken Griffin’s various hedge fund strategies all posted double-digit returns for 2023, but they failed to beat the broader market. Citadel’s Wellington fund gained 15.3%, while the flagship fund saw a 38% gain in what was its best year on record. However, Citadel’s global fixed income fund was a relative underperformer, returning just 10.9% in 2023.

The S&P 500 climbed 24% in 2023, as risk assets enjoyed a big relief rally. However, the volatility and tricky macroenvironment made it difficult for hedge funds to beat the market. Hedge funds on average gained only about 4.4% in 2023 through November, according to research firm HFR.

Despite Citadel’s strong performance, the firm is returning all of 2023’s $7 billion in profits to investors, marking a total of about $25 billion returned since 2018. The financial giant currently has about $58 billion in assets under management. Citadel declined to comment on its 2023 performance.

Overall, Ken Griffin’s hedge fund strategies all posted strong double-digit returns for 2023, though they failed to beat the broader market. Despite the strong market gains, the volatile and tricky macroenvironment made it difficult for hedge funds on average to outperform. Citadel is returning all of its 2023 profits to investors, marking a total of about $25 billion returned since 2018. The firm currently has about $58 billion in assets under management.



Read more: Ken Griffin’s hedge fund Citadel posts double-digit returns in 2023, but lags the broader market