Bloomberg Industries
Industry Snippets: Bloomberg - Citadel, Point72 Hammered by Monthly Losses in November Comedowb
Bloomberg Industries

Griffin’s Citadel lost about 3 percent last month, its poorest showing since the first quarter of 2016. Englander’s Millennium Management slid 2.8 percent, its third-worst month on record. Cohen’s Point72 Asset Management dropped about 5 percent, largely wiping out its 2018 gains, according to people familiar with the firms.

Their performance is a comedown from October, when these multi-manager firms rode out a nearly 7 percent plunge in the S&P 500 Index with only minimal losses. The damage underscores a risk faced by firms that farm out money to dozens of managers and run their stock portfolios in similar ways: When other hedge funds cut and run, the multi-manager giants can get caught up in the havoc.

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