Hedge funds like Ken Griffin’s Citadel, Steve Cohen’s Point72 lagged the stock market in 2023
NY Post
Major hedge fund moguls including Ken Griffin, Steve Cohen, and Izzy Englander failed to keep pace with the S&P 500 and the Nasdaq in what proved to be a difficult year for money managers.
While Griffin’s Citadel led the pack when it came to performance, his flagship fund — the name typically given the premier fund — only managed to notch gains of 15.3% for the year, according to reports.
In comparison, the S&P climbed 24% while the Nasdaq rose 43% — pushed higher by top performing tech stock like Nvidia.
Gains at other large funds were even weaker. Steve Cohen’s Point72 Asset Management ended the year up 10.6%, Izzy Englander’s Millennium Management gained 10% and D.E. Shaw’s flagship fund returned 9.6%, these reports add.
Citadel’s and D.E. Shaw’s non-flagship funds performed even more poorly.
Citadel’s tactical trading fund gained 14.8%, its equities fund yielded 11.6%, and its fixed income fund returned 10.9%.
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