Citadel said to book 27% return

Last year, returns at the fund topped 30% after it took over some assets from Amaranth Advisors.
NOV 26, 2007
By  Bloomberg
Despite market volatility, Citadel Investment Group LLC has gained 27% year-to-date, in what is shaping up to be the hedge fund's second consecutive year of double-digit returns, The Chicago Tribune reported. Last year, returns at the Chicago-based hedge fund topped more than 30% after it took over some assets from Amaranth Advisors LLC, which collapsed in September 2006. This year, Citadel purchased the assets of Sowood Capital Management LP, a distressed hedge fund manager, after the firm's two hedge funds lost more than 50% of their assets during the summer's credit crunch (InvestmentNews, July 30) . The average hedge fund is up 11.8% this year, down slightly from the 12% in 2006, according to Hedgefund.net. Citadel was founded by chief executive Ken Griffin in 1990, manages $16 billion in assets.

Latest News

JPMorgan tells fintech firms to start paying for customer data
JPMorgan tells fintech firms to start paying for customer data

The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.

FINRA snapshot shows concentration in largest firms, coastal states
FINRA snapshot shows concentration in largest firms, coastal states

The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.

Why advisors to divorcing couples shouldn't bet on who'll stay
Why advisors to divorcing couples shouldn't bet on who'll stay

Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.

SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives
SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives

With more than $13 billion in assets, American Portfolios Advisors closed last October.

William Blair taps former Raymond James executive to lead investment management business
William Blair taps former Raymond James executive to lead investment management business

Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.