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The multi-manager hedge fund sector is experiencing a downturn, with over $30 billion in client withdrawals in the year ending June 2024, marking the first outflows in seven years. While larger firms like Citadel and Millennium thrived, smaller players struggled with minimal gains, and rising fees deterred investor interest. Despite this, a long-term performance record shows multi-manager funds outperforming traditional hedge funds, suggesting potential for recovery if returns improve.
Chicago's ambition to become a tech hub faces challenges as Mayor Brandon Johnson proposes raising the cloud computing tax from 9% to 11% to address a $1 billion deficit. Critics warn this could deter growth and drive businesses away, complicating the city's efforts to attract tech firms amid a broader industry downturn. Despite recent investments from major companies, the tech workforce has declined by 9.5% since 2018, raising concerns about the city's competitive edge.
Ken Griffin’s Citadel is set to stand out in a challenging year for commodities trading, achieving approximately $4 billion in profits, primarily from natural gas trading. This performance positions Citadel to match last year's impressive results, reinforcing its status as a leading player in the asset class.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
multi-manager hedge funds face significant withdrawals amid changing investor sentiment
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The Goldman Sachs Group, Inc.
Balyasny Asset Management LP
Barclays PLC
Morgan Stanley
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Schonfeld Strategic Advisors LLC
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14:02 19.12.2024
chicago's cloud computing tax threatens tech growth and innovation ambitions
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Brandon Johnson
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Brian Hopkins
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20:27 09.12.2024
citadel achieves four billion in profits amid commodities market challenges
18:55 02.12.2024
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