罕见！Citadel、千禧年，“多策略”对冲基金巨头3月继续亏

Group 1 - Multi-strategy hedge funds, often seen as a safe haven, have performed poorly in March, continuing a downward trend from February, with Millennium Fund down 1.2% and Citadel's main hedge fund down 0.5% in March, leading to year-to-date declines of 2% and 0.85% respectively [1] - Traditional hedge funds like Renaissance Technologies and Greenlight Capital have shown resilience, with returns of 12.6% and 8.2% in the first quarter, benefiting from buying opportunities during the pullback of major tech stocks [1] - The current challenges faced by multi-strategy hedge funds are the most significant since the onset of the COVID-19 pandemic, exacerbated by the trade war initiated by the Trump administration and ongoing inflation pressures [1] Group 2 - Multi-strategy funds, also known as "Pod Shops," are characterized by multiple independent teams managing funds, which allows for diversified risk management but may pose systemic risks during market stress [2] - Citadel achieved a record profit of $16 billion in 2022 during a challenging market environment, showcasing the potential of multi-strategy funds to generate substantial returns [2] - Concerns have been raised by financial authorities, such as Andrew Bailey of the Bank of England, regarding the potential for "Pod Shops" to exacerbate market volatility through rapid deleveraging in stressful conditions [2]