Ken Griffin says he'd be happy to get rid of PFOF
Published Date: 10/4/2021
Source: CNBC Television
Ken Griffin on payment for order flow at the Economic Club of Chicago. With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Karen Finerman and Pete Najarian. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi The volatile September was a golden opportunity for billionaire investor Ken Griffin to shine as his main hedge fund crushed the market with outperformance. Citadel’s multistrategy flagship fund Wellington gained 7.8% in September, bringing its year-to-date performance to 18.5%, according to a person familiar with the returns. All five of the investment strategies of the fund — equities, commodities, global fixed income and macro, credit, and quantitative strategies — all registered gains last month, the person said. The overall stock market suffered a roller-coaster ride in September as inflation fears, slowing growth and rising rates kept investors on edge. The S&P 500 fell 4.8% last month, posting its worst month since March 2020 and breaking a seven-month winning streak. The blue-chip Dow and the Nasdaq Composite dropped 4.3% and 5.3%, respectively, suffering their worst months of the year. The hedge-fund industry has been attracting new capital this year as the return of volatility sent investors to alternative assets. Hedge funds saw another $12 billion in inflows in August, bringing the overall assets under management to a record $3.622 trillion, according to data from eVestment. Citadel’s other multistrategy fund, Tactical Trading, gained 3.9% in September and is up 14.1% this year. The hedge-fund community gained about 10% in 2021 through the end of August, according to HFR. Citadel’s returns were first reported by Business Insider. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC https://www.cnbc.com/select/best-credit-cards/ #CNBC #CNBCTV