Many of the world's biggest hedge funds posted comfortable double-digit returns in 2024, benefiting from turbulent markets, central bank policy changes and a close presidential election campaign.
Big winners include Dan Loeb's New York-based Third Point, which returned 28.7%, and Mets owner Steve Cohen's Point72, which returned 19%, according to the paper. , including a 15.1% gain from Citadel's flagship Wellington fund, led by Ken Griffin. Several people familiar with the matter were cited in a Bloomberg and Reuters report on Friday.
All three multi-strategy hedge funds had an average return of more than 10.7% through November this year (compared to 5.7% for the same period in 2023), according to PivotalPath.
However, some portfolio managers posted gains of more than 50% in 2024, thanks in large part to so-called “Trump trades.”
The technology-focused Light Street Capital Long/Short Fund ended 2024 up 59.4%. Overall, long/short hedge funds had their best year since 2020, according to Goldman Sachs.
Discovery Capital, a macro hedge fund that trades in both emerging and developed markets, ended 2024 up 52%, with gains across stocks, currencies, interest rates and credit, people familiar with the performance said. said.
London-based Rokos Capital Management is up 30.7% through Dec. 27, thanks to Trump trades that short bonds and go long stocks and the dollar. reported by bloomberg.
The big gains came as the S&P 500 index rose 23% in 2024, two years after falling nearly 20%.
DE Shaw posted double-digit returns in two multi-strategy funds. The company's flagship composite fund rose 18% in 2024, while its macro-oriented fund Oculus returned 36%, marking its best annual performance on record, Reuters reported.
Marshall Wace, a British hedge fund with about $71 billion under management, has posted double-digit returns in several of its funds, people told Reuters. The company, co-founded by British investor Paul Marshall, made a return of about 14% on the Eureka fund, according to Reuters.
Longtime rival Millennium Management, led by Izzy Englander, was expected to return 15% in 2024.
Bridgewater Associates' flagship Pure Alpha Volatility Fund rose more than 11% in the year to Dec. 27, according to Reuters.
Schoenfeld's flagship New York-based hedge fund, Strategic Partners, returned just 3% in 2023. In a clear reversal, the $12 billion manager ended 2024 with a 19.7% return.
Walleye Capital ended 2024 with a 1.8% gain in December, for a total annual return of 17.7%, according to Business Insider.
with post wire
