Citadel Investment Group LLC’s flagship fund lost roughly half its value last year, a beating that echoed throughout the hedge fund industry.
The loss is a preliminary tally given to Reuters from an investor who asked not to be identified. The fund generated returns of around 30% in 2007, according to Reuters.
Citadel, a Chicago-based hedge-fund, in December halted redemptions on its two largest funds as part of an effort to boost its cash reserves.
Hedge funds suffered their worst year in 2008, losing an average 19.2% that was still less steep than the 38% drop for the average stock mutual fund, data released on Thursday showed.
more at
No comments:
Post a Comment