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Big hedge funds score gains with Trump election
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Big hedge funds score gains with Trump election
Dec 2, 2024 10:22 AM

NEW YORK (Reuters) - A number of multi-billion dollar hedge funds gained in November, numbers obtained by Reuters show, riding the volatility of the U.S. presidential election despite tight polling making positioning more difficult for portfolio managers.

Following the election of Donald Trump on Nov. 5, U.S. stocks, the dollar and bitcoin rallied, while the euro and the Mexico's peso struggled. U.S. treasuries did well in November, with the 10-year Treasury yield down by about 10 basis points over the course of the month, as a rally at the end of the month offset yield gains around the election.

Multi-strategy hedge funds Citadel and Schonfeld both gained 1.8% in their flagship funds Wellington and Strategic Partners in November, according to sources. The Winton Fund gained 0.3%, a separate source said.

Macro hedge fund Discovery Capital, founded by Rob Citrone, jumped 14.5% last month, another person said. His fund is up 46.5% on the year.

Discovery, known as a "Tiger cub" as its founder worked for legendary investor Julian Robertson at Tiger Management, Citrone bets on macro trends as well as equities long and short positions. All the asset classes were positive contributors to performance, this source added.

See below hedge funds' performances in November:

Fund Performance in

November

Citadel 1.8%

Wellington

Citadel 1.6%

Tactical

Trading

Schonfeld 1.8%

Strategic

Partners

Schonfeld 1.6%

Fundamenta

l Equity

Discovery 14.5%

Capital

The Winton 0.3%

Fund

Winton 0.2%

Diversifie

d Macro

*Through Nov. 28th

(Reporting by Carolina Mandl, in New York; additional reporting by Nell Mackenzie, in London, and Davide Barbuscia, in New York)

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