Tuesday, 21 February 2017
Last updated 53 min ago
Jan 7 2009 | 1:02am ET
A brutal December has left Citadel Investment Group’s flagship hedge funds deep in the red for last year.
Through Christmas Eve, the Kensington and Wellington funds lost 9% on the month, leaving them down roughly 53% on the year, Dow Jones Newswires reports. Citadel suspended redemptions from the funds through at least the first quarter of this year after investors sought to yank $1.2 billion of the roughly $10 billion managed by the funds.
The news was not all bad for the Chicago hedge fund giant last year, one of the worst in the history of the hedge fund industry. The firm’s market-making hedge funds, which manage some $3 billion, returned an impressive 43% last year, while most hedge funds were down by double-digits.