Hedge Fund returns | 2025
Any thoughts on this? Distressed / Macro players had a great year. I think Arini is missing somewhere? And maybe one other MM at the lower end of table due to data incompleteness?

Any thoughts on this? Distressed / Macro players had a great year. I think Arini is missing somewhere? And maybe one other MM at the lower end of table due to data incompleteness?

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More returns in the BI article. Seems like Baly killed it in 2025 vs. the other large MM funds.
Point and BAM really doing well
DE Shaw, Citadel, Millennium are the GOATS
I find Elliott/SPC to be more versatile and interesting places than, say at least C and M, but each on their own preferences!
The MMs are undoubtedly superior products to LPs…. 8-20% market neutral returns year in and year out
Whether these are more interesting / better places to work is another question.
Weird that Bridgewater is choosing to show specific substrategies, any fund can do that to inflate their returns as you always some funds doing well. The first time theyve done well in several years, so must be trying hard rebuild their reputation...
I thought these HF returns are technically leaks, not intentional releases? Regardless, everything except AIA has been coming out yearly, and Pure Alpha is the flagship fund.
Not leaks but intentional when performance is good. That is Pure Alpha II so they have different versions which defeats the purpose of a flagship being one fund
Thank you. Anyone know the difference between the different Citadel funds? i.e. is one purely macro / commodities, or does each have everything/just different allocation proportions?
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