Citadel, Millennium hedge funds have dismal – Business News
Two of the world’s high hedge funds have been hit by losses for the reason that flip of the yr amid market turmoil over President Trump’s tariff plans that look set to upend world commerce.
Ken Griffin’s Citadel was down by 0.8% within the first quarter of this yr, whereas Izzy Englander’s Millenium Management was down by 2%, in accordance with Bloomberg.
The two males are each titans of the US financial industry, value $42 billion and $14 billion, respectively.
Izzy Englander’s Millennium Management returned -2% for the quarter, sources mentioned. Bloomberg by way of Getty Images
Investors have been buckling down forward of the commander-in-chief’s self-styled ‘Liberation Day,’ by which he’ll announce a string of recent levies on international items.
They have pulled back from European automotive shares, US tech corporations, and riskier rising markets.
German 10-year authorities bonds have additionally seen their largest weekly selloff since 1990, whereas the S&P 500 has skilled its largest weekly fall in six months.
It is a sea change from the tip of final yr when Trump’s election victory had raised enthusiasm on Wall Street that the economic system would shortly rebound as he promised a light-touch strategy to regulation and M&A exercise.
But Griffin, who based Citadel in 1990, reportedly advised his money managers to take benefit of the present turmoil.
Billionaire Ken Griffin’s Citadel was additionally within the crimson for the primary quarter. Getty Images
“Let’s play offense,” he was quoted as saying in an e mail final month by Bloomberg.
The largest funds have confronted margin calls, in accordance with a observe to purchasers by Swiss giant UBS, which is when merchants are requested to stump up more money in dangerous markets.
The analysis paper singled out belongings which can be extraordinarily delicate to the general rise and fall of markets, pointing to US tech shares.
But different hedge funds have been more nimble, with smaller firm in a position to post constructive returns for the reason that begin of 2025.
Portfolio losses stemmed from shares that had been delicate to the general rise and fall of markets, together with the most important US tech names, UBS mentioned. AP
Bridgewater Associates’ flagship fund Pure Alpha 18% volatility, posted a 9.9% gain within the first quarter, in accordance with Reuters.
Hedge fund EDL Capital, which trades belongings like currencies and bonds primarily based on world macroeconomic outlooks, has returned 22% to date in 2025, the identical source mentioned.
The $1.5 billion fund, run by star trader Edouard de Langlade, completed March up 14% after a February by which the fund returned 5.9%.
FundMarchQ1 2005AQR Apex Strategy3.4percent9percentAQR Delphi Long-Short Equity Strategy2.3percent9.7percentAQR Helix Strategy4.4percent3percentAQR Managed Futures Full Strategy2.5percent8.2percentEDL Capital14percent22%Citadel Wellington-0.5%-0.8%Millennium Management-1.2%-2%Balyasny-1percent2.5%Bridgewater Pure Alpha 18% volatility9.9%
Billionaire investor Cliff Asness’s AQR Capital Management completed the primary quarter with constructive returns in a number of of its funds.
The $128 billion hedge fund returned a constructive 3.4% efficiency in March. Its multi-strategy fund, Apex Strategy, completed with a 9% first-quarter return.
Billionaire investor Cliff Asness’s AQR Capital Management completed the primary quarter with constructive returns in a number of of its funds.
Billionaire investor Cliff Asness’s AQR Capital Management completed the primary quarter with constructive returns in a number of of its funds. Getty Images
This strategy benefited from a balanced long and short strategy. It additionally noticed arbitrage good points, which is when a trader exploits the distinction of one financial asset in opposition to one other.
A long place expects an asset to rise, whereas a short place makes money when it declines in worth.
With Post wires
