(Adds Citadel and Schonfeld) * Hedge fund 2024 returns range from about 10% to more than 30% * Equity performance drives returns, energy falls – Source By Nell McKenzie and Carolina Mandl London/New York , Jan 2 (Reuters) – Some of the world’s biggest hedge funds ended 2024 with comfortable double-digit returns, amid chaotic markets, central banks Benefited from changes in policy and the tight race of the US presidential election. Hedge funds, which trade many different asset classes from stocks to commodities, have weathered volatile markets with some success. British hedge fund Marshall Wace, which manages about $71 billion, has made double-digit gains in several of its funds, a source close to the matter told Reuters on Thursday. Co-founded by British financier Paul Marshall, the firm returned nearly 14% in its Eureka fund through December 27, more than 22% in its market neutral TOPS fund and nearly 16% in its Alpha Plus fund, the source said. , Hedge fund manager Bridgewater Associates’ flagship Pure Alpha 18% Volatility Fund has gained more than 11% in 2024 through Dec. 27, a source familiar with the matter said Thursday. Large US multi-strategy firms also posted double-digit profits. Schonfeld’s flagship hedge fund Strategic Partners rose 19.7% in 2024, while its Fundamental Equity fund gained 21.1%. Citadel’s flagship fund Wellington gained 15.1%, while Millennium Management returned 15% in 2024, according to people familiar with the results. Citadel gave customers the option to cash in on Wellington’s profits. Very few customers took up the offer, with only $300 million of the billions in profits redeemed. Two of DE Shaw’s multi-strategy funds posted double-digit returns, including its flagship composite fund, which has gained 18% in 2024, and its more macro-oriented fund Oculus, which has gained 36% over the same period. The return posted is the best annual return ever. demonstration, another person familiar with the matter said. The results for Millennium and DE Shaw were first reported by the Financial Times and Bloomberg, respectively. “There will be a resurgence of the multi-strat space in 2024,” said John Caplice, CEO of hedge fund research firm PivotalPath, and he expects to see more inflows into the strategy. Last year’s gains were driven by a rate cut by the U.S. Federal Reserve, which helped lift stocks, while Donald Trump’s decisive election victory and the Bank of Japan’s rate hike were other catalysts for big market movements. . According to hedge fund research firm PivotalPath, hedge funds returned an average of 5.7% in 2023 through November, with equity funds leading the way with a gain of 18.2%. Tracking trends Quantitative hedge funds, which use algorithms and coding to track markets, benefited from big moves in many markets, including equities, currencies, grains and “soft” commodities like cocoa and coffee, last year. Had increased. For $728 million Dunn Capital Management, these were all positive drivers for the Dunn WMA trading program, which has gained 7.28% for the year despite negative drivers in energy, metals and European equities, said a source with knowledge of the matter. Gave return. Hedge fund CFM (Capital Fund Management), also a quantitative investment manager, returned 12.01% in its Discus fund and 14.22% in its Stratus fund, another source with knowledge of the matter told Reuters. British fund Winton saw almost 10% returns on investments in its multi-strategy systematic funds. In total, hedge funds manage about $13 billion. Transtrend’s Diversified Trend Program returned 5.90% for 2024. Fund Name Percentage Growth in 2024 Marshall Weiss – Eureka 14.32* Marshall Weiss – Market Neutral Tops 22.59* Marshall Weiss – Alpha Plus 15.86* Vinton – Multi-Strategy Systematic Fund 10.3 Bridgewater Associates* – Pure Alpha 18% 11.2 Vol Bridgewater Associates* – China total 35 returns DE Shaw – Oculus 36.1 DE Shaw – Composite 18 Millennium Management 15 CFM Discus 12.01 CFM Stratus 14.22 CFM Systematic Global Macro 13.32 CFM Cumulus 14.12 CFM IS Trends 18.94 CFM IS Trends Equity Capped 12.42 Dunn WMA Program 7.28 Transtrend 5.9 Citadel Wellington 15.1 Citadel Tactical 22.3 Citadel Equities 18 Citadel Global Fixed Income 9.7 *Results as of December 27 Sourced: Multiple people with knowledge of the matter. The companies declined to comment on the matter. (Reporting by Nell McKenzie in London and Carolina Mandal in New York; Editing by Dhara Ranasinghe, Kevin Liffey and Andrea Ricci)
