UPDATE 2-Citadel posts record revenues for hedge fund, securities ops in 2022 - source By Reuters Staff 2 MIN READ (Adds funds performances and changes sourcing) Jan 5 (Reuters) - Kenneth Griffin’s Citadel marked record revenues in its hedge fund and electronic-trading businesses for 2022 despite turmoil in global capital markets, a source familiar with the matter said on Thursday. The hedge fund operation made about $28 billion in revenue, while Citadel Securities, one of the world’s biggest electronic-trading firms, brought in $7.5 billion. Record revenues from the hedge fund unit comes in a year of stellar performance for Citadel’s funds. Its flagship fund Wellington posted gains of 38.1% last year, while the fixed income fund went up 32.58%, for instance, according to the source. The hedge fund was also expected to return about $7 billion in profits to investors in the first week of January after a stellar performance last year, a source familiar with the matter had told Reuters in December. Citadel, which manages roughly $60 billion in assets, did not immediately respond to a Reuters request for comment on the matter. The Wall Street Journal reported earlier on Citadel’s record revenues. Fears of interest rate hikes and the Russia-Ukraine war weighed on capital markets throughout 2022, leaving the benchmark S&P 500 down about 19%, but hedge funds have weathered the downturn better than other financial firms. (Reporting by Manya Saini in Bengaluru and Carolina Mandl in New York; Editing by Devika Syamnath and Marguerita Choy)
I read that earlier today and thought that performance was incredible, almost in the too-good-to-be-true zone. But no matter what, congrats goes out to that entire team as far as I'm concerned.
Collusion between their market making flow trading division and investment division. What else. This has been going on for decades now.
Same happened with SAC in the past. All the lemmings and know nothings fell over themselves praising the investment acumen of Steven. Yet it turned out he hired himself a few brothers to participate in a little cutesie insider trading. After the was put under the magnifying glass he never ever again generated a return that came even remotely close to his past performance.