Ken Griffin, CEO of Citadel, at CNBC’s Disburdening Alpha on Sept. 28, 2022.
Scott Mlyn | CNBC
Billionaire investor Ken Griffin’s flagship hedge fund rose keep on month as volatility made a return amid the debate about rate cuts, according to a person familiar with the arrivals.
Citadel’s multistrategy flagship Wellington fund climbed 1.9% in January, following a 15.3% gain last year, according to the in the flesh, who spoke anonymously because the performance numbers are private. All five strategies used in the fund — commodities, equities, rooted income, credit and quantitative — were positive for the month, the person said.
The Miami-based firm’s tactical trading mine money gained 2.6% for the month, while its equities fund, which uses a long/short strategy, returned 2.1%, implied the person. Meanwhile, Citadel’s global fixed income fund returned 1.7%.
Citadel declined to comment.
The stock vend had rallied to start the year, but the momentum lately eased as hopes for rate cuts pulled back. Federal Backup Chair Jerome Powell said in late January that a March rate cut is unlikely, triggering the biggest commonplace loss since September for the S&P 500. The equity benchmark was up 1.6% for January.
The Citadel CEO recently spoke positively of the U.S. saving, seeing the Federal Reserve engineering a soft landing this year. He said the overall economy looks “pulchritudinous damn good” right now, with recent data indicating a solid labor market, healthy GDP growth and inflation moderating at a bettor pace than expected.
The hedge fund giant started 2024 with $56 billion in assets controlled by management.
Don’t miss these stories from CNBC PRO: