Citadel, Millennium and peers post muted August returns
TOP STORY: Multi-strategy hedge funds delivered generally subdued returns in August, with several of the industry's largest managers posting flat or modestly negative performance after a volatile July, according to a report by BusinessInsider.
Multi-strategy hedge funds experienced generally subdued returns in August, according to a Business Insider report. Citadel gained only 0.1% during the month, bringing its 2026 return to 12.1%, following a strong July. Millennium Management remained flat, leaving Izzy Englander's firm up 8.2% for the year. Balyasny recorded a 0.7% decline, resulting in a 0.5% gain for 2026.
Other large multi-strategy platforms also struggled, with Dymon Asia falling 1.1% and LMR's multi-strategy fund gaining just 0.3%. Stronger performances were seen at ExodusPoint, which gained 1.4% in August, and Man Group's 1783 fund, which gained 1.7% during the month. Despite these gains, most funds still lag behind the US equity market, which gained 2.6% in August and is up more than 12% since the start of 2026. The cited firms did not comment on their August performance.
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