Overseas hedge fund giant's first-half performance revealed, Citadel flagship fund 8.1%

Overseas hedge fund giants Citadel and Millennium Management continued their strong profit momentum in the first half of 2024. On Tuesday, July 2nd, Eastern Time, media reports cited sources familiar with the matter as saying that hedge funds Citadel and Millennium achieved steady profits in the first half of this year. As of the end of June, Citadel founder Ken Griffin's flagship fund, the Wellington Fund, achieved a return of 8.1% in the first half of 2024. Citadel's tactical trading fund rose by 2.3% in June, bringing the fund's year-to-date cumulative return to 13.7%. Similarly, Millennium founder Izzy Englander's hedge fund, the Millennium Fund, also achieved a return of 6.9% during the same period. Media reports indicated that these performance data came from sources familiar with the matter, and spokespeople for both companies declined to comment on this. Data provider Hedge Fund Research stated that although these figures are slightly lower than the S&P 500 index's 15% increase during the same period, they exceeded the hedge fund industry's average increase of 5.2% as of the end of May, further demonstrating Citadel and Millennium's leadership in the multi-strategy hedge fund field. These two companies were also among the best-performing companies in the industry in 2023. Citadel's Wellington Fund grew by 15.3% last year, while Millennium's return was around 10%. In comparison, the overall average increase for multi-strategy funds last year was close to 6%. According to the LCH Investments ranking, Citadel and Millennium's net profits in 2023 ranked "second" and "fourth" on the hedge fund ranking list. Furthermore, data shows that Citadel, Millennium, and D.E. Shaw, these three companies, which managed only about 4.6% of industry assets at the end of 2023, collectively generated $71.2 billion in profits over the past three years, accounting for 38.3% of all hedge fund profits. Media reports pointed out that Citadel and Millennium manage assets of $63 billion and $67.7 billion respectively, aiming to make money for investors in broader asset markets during downturns. For example, when the S&P 500 index fell by 19.4% in 2022, they still made profits