Top Hedge Funds Triple Profits to $67 Billion Despite Market Turmoil
• The world's top hedge funds generated $67 billion in profits for investors in 2023, triple their 2022 amount, despite turbulent markets.
• TCI Fund Management was the top performer, while Bridgewater Associates and Caxton were the only top 20 funds posting losses.
• The top 20 hedge funds achieved an average return of 10.5%, significantly outpacing the industry's 6.4% average.
• Multi-strategy hedge funds like Citadel, Millennium Management, and D.E. Shaw generated 38.3% of industry returns over 3 years.
• William Ackman’s Pershing Square reentered the top 20 rankings for the first time since 2015 after a 26.7% return last year.