Saturday, 10 December 2016
Last updated 1 day ago
Jan 11 2013 | 1:19pm ET
Citadel Investment Group enjoyed "an exceptional year" with all of its hedge funds posting double-digit returns.
In a letter to investors, founder Kenneth Griffin took a victory lap. He crowed about the returns of Citadel's flagships, with the Wellington Fund rising 25.9% and the Kensington Fund 24.9%. But Citadel's banner 2012 didn't end there: The firm's Tactical Fund rose 25.7% and its global equities fund rose 17.8%.
Those returns helped push Citadel's assets under management up to $14 billion, $3 billion more than at the beginning of 2013.
Griffin also gave investors a look at his hopes and plans for this year, saying Citadel aims "to be highly profitable, to improve our productivity and to strengthen our teams." But, he acknowledged, "The global economic landscape continues to be awash in uncertainty. This environment demands that we carefully balance our aggressive pursuit of gains with the protection and preservation of investment capital during periods of market turmoil."