US hedge fund Citadel makes Ksh.1.9 trillion profit, largest in record
Citadel made a record $US16 billion (Ksh.1.9 trillion trillion) in profit for clients last year, the biggest dollar gains by a hedge fund in history.
The Ken Griffin’s managed firm outshone the rest of the industry and one of history’s most successful financial plays.
Citadel, which manages $54bn (Ksh.6.7 trillion) in assets, made a 38.1 per cent return in its main hedge fund and strong gains in other products last year, equating to a record Ksh.1.9 trillion profit for investors after fees, according to a report by Financial Times.
According to FT, the profits were driven by bets across a range of asset classes including bonds and equities.
The firm was set up in 1990, made a total gross trading profit of about $28bn (Ksh.3.4 trillion) last year.