September Hedge Fund Performance Citadel, Millennium, Point72, and D.E. Shaw
Business Insider
2023/10/8
The stock market has been hot for most of this year, while hedge funds have struggled to keep pace. That dynamic has started to flip after a second straight month of declines in the S&P 500 and another bumper month for multistrategy hedge funds.
Most managers tracked by Insider had positive returns in September, while the S&P 500 lost 4.9% as the prospect of higher-for-longer interest rates rattled markets. The S&P's gains have now been trimmed to 11.7%, and at least one multi-strategy giant has now eclipsed the stock index.
Ken Griffin's $62 billion Citadel continues its outperformance, returning 1.7% in September in its flagship Wellington fund. Up 12.6% for 2023, it is still leading the pack this year, according to a person familiar with the figures.
D.E. Shaw had a strong month in its Composite fund, returning 2%.
Here's how top multi-strategy players performed in September:
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