Reports

US Hedge Fund Slid by More Than Half In 2008 – Report

Nick Parmee, 7 January 2009

articleimage

Chicago-based Citadel Investment Group's main hedge fund lost 53 per cent in 2008, according to someone who had seen the group’s preliminary estimates, according to media reports.

The $10 billion Kensington and

Wellington funds lost about 9 per cent during the first 24 days of December following a 13 per cent loss in November. In December Citadel stopped investors withdrawing money from the Kensington and

Wellington funds until at least March. In 2007, the fund was up 30 per cent.

Citadel's $3 billion market-making family of funds ended 2008 up about 43 per cent, according to preliminary estimates.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes