In the fiercely competitive landscape of multi-strategy investments, where firms relentlessly vie for returns, assets, and top-tier talent, Griffin's premier fund has emerged as a standout performer on the first place, boasting an impressive gain of 15.3%, according to sources familiar with the financial data reported by Business Insider.
The momentum doesn't stop there; Griffin's Wellington fund has been on an exceptional winning streak, delivering remarkable returns of 38% and 26% in the years 2022 and 2021, respectively. Citadel's prowess extends across its diverse portfolio, with its tactical (14.8%), equities (11.6%), and fixed-income funds (10.9%) all achieving double-digit results.
While Citadel's competitors, including Millennium led by Izzy Englander and Steve Cohen's Point72, generally fared well in 2023, even Griffin fell short of surpassing the S&P 500's formidable 24% gain, predominantly driven by the stellar performance of a select few mega-cap tech stocks such as Nvidia and Meta.
Point72 concluded the year with a solid 10.6% gain, building on a modest increase in December, while Millennium returned a respectable 10%. D.E. Shaw, known for blending fundamental strategies with quantitative trading, achieved a 9.6% gain in its flagship fund, with its macro-focused Oculus fund posting a commendable 7.8% return.
Capital Fund Management, a robust $12.5 billion multi-strategy player emphasizing its prowess in data analysis, reported strong performances in its key strategies. Discus and Stratus returned 14.8% and 11.3%, respectively, underlining the firm's adeptness in navigating the intricate landscape of financial markets.
In contrast, smaller rivals grappled to keep pace with their larger counterparts, as escalating costs associated with multi-strategy funds continued to exert pressure on the midsize players within the industry.
ExodusPoint, spearheaded by Michael Gelband, secured a 7.3% gain for the year, while Verition, managing assets totaling $8 billion, achieved an 8.2% return. Unfortunately, Minnesota-based Walleye experienced losses in December and concluded the year with a 3.9% gain. Schonfeld, which underwent significant layoffs in connection with a $3 billion infusion from large institutions, achieved modest results with a 3% gain in its flagship fund and a 5% gain in its smaller equities fund.
Amidst the industry's titans, one firm making its mark is Balyasny, founded by former Schonfeld trader Dmitry Balyasny. Managing a substantial portfolio exceeding $20 billion, Balyasny's fund reported a less-than-remarkable return of under 3% for the year in 2023. Additionally, reports surfaced of at least one significant setback, leading to the liquidation of a $100 million portfolio, as documented by Bloomberg.
As you can see, whales are getting richer no matter what conditions currently prevail in the world. It is also worth staying up to date and observing the movements of the "fat".
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