Here’s How Citadel, Point72 Fared Against Multi-Strategy Peers
- Griffin’s Citadel led pack with first quarter gain of 6.35%
- Funds underperformed global equities and high-yield bonds
Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York, U.S., on Monday, March 12, 2018.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The first-quarter numbers are in for several of the biggest hedge fund managers who invest billions of dollars across strategies and asset classes. For the most part, the results are underwhelming.
Of six major funds for which returns were available, all underperformed the broader global equity market, which rallied the most in nine years last quarter. With bond indexes also gaining, the pressure on hedge funds to prove their mettle -- and justify their fees -- continues. The average multi-strategy hedge fund gained 1.24 percent, according to preliminary asset-weighted estimates by Eurekahedge.