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Hedge fund Cinctive up 11% in first half of the year - source

Carolina Mandl
·1-min read

By Carolina Mandl

NEW YORK (Reuters) - U.S.-based hedge fund Cictive Capital Management ended the first half of the year up 11%, mainly helped by its performance in equities, a source familiar with the matter said.

Cinctive, a multi-strategy hedge fund with roughly $3 billion in assets under management, had gains with bets related to artificial intelligence in sectors such as energy, technology and utility stocks, the source added. Financials, healthcare and biotech were also successful bets in the first half of the year.

Cinctive's performance beat other big multi-strategy hedge funds, such as Citadel and Millennium.

(Reporting by Carolina Mandl, in New York)