In the competitive landscape of hedge funds, 2024 saw several prominent firms achieve notable returns, distinguishing themselves from industry benchmarks.
Schonfeld Strategic Advisors, a multistrategy firm based in New York, experienced a remarkable turnaround in 2024. Following a challenging year in 2023, Schonfeld recorded a 19.7% gain, emerging as a leader among multimanagers. The firm maintained positive results each month and strategically expanded its team by adding 19 portfolio managers across various strategies. A significant portion of Schonfeld’s risk management is now conducted internationally, with 40% of operations handled by portfolio managers outside the United States, including a new office in Dubai.
D.E. Shaw, another major player with $65 billion in assets, achieved an 18% return in its multistrategy Composite fund and an impressive 36% in its macro-focused Oculus fund. This outcome is set against the backdrop of the firm’s decision to return a substantial portion of profits to its investors.
Citadel, renowned for its historical profitability, reported a 15.1% return for its flagship Wellington fund in 2024. Similarly, Millennium concluded the year with a 15% increase, achieving a 2.5% gain in December alone.
Walleye Capital, noted for its success this year, finished 2024 with a 17.7% gain, aided by a 1.8% increase in December. Other hedge funds, like Balyasny and Sculptor, also reported respectable returns of 13.6%, while ExodusPoint achieved an 11.3% gain despite a volatile market environment.
While these impressive figures are notable, it’s important to highlight that most of these funds did not match the S&P 500’s 23% increase in 2024. However, their performance remains commendable given the varied strategies and market conditions these firms navigate.
The hedge fund industry in 2024 demonstrated robust performance, with many leading firms achieving double-digit returns. Although not all matched the S&P 500, their strategic decisions and adaptations to market conditions underscore the dynamic nature of hedge fund management.
Source: Businessinsider
