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Tough November sees Balyasny lag multi-strat peers

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Balyasny Asset Management is lagging behind its multi-strategy peers in terms of performance after a tough November saw the firm lose 1.2%, paring year-to-date returns to just 1.5%, according to a report by Business Insider.

The report cites unnamed sources with knowledge of the matter as revealing that by comparison, Ken Griffin’s flagship Wellington fund gained 0.9% last month and is now up 14.8% for the year.

Steve Cohen’s Point72 meanwhile, recorded a 1.3% gain in November bringing year-to-date returns to 9.8%, while Izzy Englander’s Millennium returned 1.2% last month and is up 9.7% for 2023 and DE Shaw’s flagship fund was up 0.3% for the month, with the firm’s year-to-date returns now standing at 9.6%.

Balyasny’s fund was not the only multi-strategy firm that fell in November, with London-based LMR Partners losing 0.1%, which brought its year-to-date return to 4.3%. Most of the hedge fund industry lagged far behind the S&P 500, which returned 8.9% in November and is now up 19% in 2023.

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