Citadel Funds Fell By Half Last Year

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.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.