New York (USA): Cinctive Capital Management, a prominent U.S. hedge fund, recorded an impressive 11% growth in the first half of 2024, driven primarily by its equity investments, according to a knowledgeable source.
Substantial Growth in AI-Driven Sectors
Cinctive, managing approximately $3 billion in assets, achieved significant gains through strategic investments related to artificial intelligence in various sectors, including energy, technology, and utilities. The fund also saw notable success in financials, healthcare, and biotech sectors during this period.
Outperforming Industry Peers
The hedge fund’s outstanding performance outshined other major multi-strategy hedge funds like Citadel and Millennium, showcasing Cinctive’s effective investment strategies and market acumen.