By Nell Mackenzie

LONDON (Reuters) – D.E. Shaw’s largest hedge fund posted a nearly 10% return in 2023 after fees, after a mixed performance across multi strategy and macroeconomic hedge funds navigating choppy global markets, a source familiar with the matter said on Monday.

The numbers, an estimated result for the year through Dec. 31, outperformed Hedge Fund Research’s (HFR) Global Hedge Fund Index tracking hedge funds globally. It was up 2.5% for the year as of Dec. 15.

D.E. Shaw, one of the industry’s biggest managers, posted gains in its D.E. Shaw Composite Fund of 9.6%. The multi-strategy fund’s performance returned just over almost 25% in 2022, the source said.

The firm’s macro-oriented fund, the Oculus Fund, finished 2023 up a net 7.8% versus a roughly 20% increase in 2022. It also beat an index of macro economic peers tracked by HFR that was largely flat as of mid-December.

Both of D.E. Shaw’s biggest funds are closed to new money, said the source.

The New York-based hedge fund, which manages $60 billion in assets, declined to comment on the matter.

Bloomberg reported earlier on D.E. Shaw biggest funds’ annual gains.

(Reporting by Nell Mackenzie; Editing by Dhara Ranasinghe and David Evans)

Brought to you by