In finance, as in comedy, timing is everything.
So when Citadel decided in 2008 to launch a series of single-strategy hedge funds, the timing seemed to be all wrong.
At the time financial markets were in turmoil and Citadel’s flagship multi-strategy funds were facing big losses, which would ultimately exceed 50% for the year.
However, Citadel is having the last laugh.
Five years on its single-strategy funds have produced stellar returns and now account for almost half of its $15 billion in hedge fun
The week on Risk.net, August 4–10Receive this by email