Schonfeld Strategic Advisors' Flagship Fund Soars 15.5%, Outpacing Competitors in Volatile Market
Schonfeld Strategic Advisors Outperforms Rivals in 2024
Schonfeld Strategic Advisors, led by CEO and Chief Investment Officer Ryan Tolkin, has emerged as a top performer in the hedge fund industry for 2024. The firm’s flagship fund has posted an impressive 15.5% gain through October, surpassing many of its competitors.
This strong performance comes after a challenging period in late 2022 and early 2023, which had fueled speculation about a potential merger with Millennium Management. However, Schonfeld has not only avoided a takeover but has also solidified its position in the hedge fund landscape.
The firm’s flagship Partners strategy achieved a notable 2.3% gain in October alone, contributing to its year-to-date success. Additionally, Schonfeld’s Fundamental Equity fund rose by 4% in October, bringing its 2024 return to 16.5%. The flagship fund’s consistency is particularly noteworthy, having posted gains in 17 of the past 18 months.
October proved to be a robust month for large multistrategy managers, despite stock market volatility. The S&P 500 experienced a slight decline, marking its first down month since April. However, the multistrategy model demonstrated resilience, aggregating returns from numerous trading teams.
In comparison to its peers, Schonfeld’s performance stands out:
- Walleye gained 1.9% in October, reaching a 13.3% increase for 2024.
- Citadel’s Wellington fund rose by 1.2% in October, with an 11.2% gain for the year.
- Millennium reported a 0.4% gain in October, totaling a 10% return for the year.
Other notable performances include Sculptor (1.8% in October, 11.8% YTD), Verition (0.8% in October, 7.9% YTD), Balyasny (1.3% in October, 7.4% YTD), and ExodusPoint (0.2% in October, 6.7% YTD).
Citadel’s Tactical Trading fund, which includes quant and equity strategies, has achieved an impressive 18% return for 2024, outpacing even Schonfeld’s flagship fund.
As the year progresses, industry observers will be closely watching to see if Schonfeld can maintain its strong performance and continue to outpace its competitors in the highly competitive hedge fund market.
