US hedge fund Citadel makes Ksh.1.9 trillion profit, largest in record

Citadel, US hedge fund 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’s boss Ken Griffin

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.

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