Financial Times FT.com

Citadel trading costs hit $5.5bn

By David Wighton, Ben White and Deborah Brewster in New York

Published: December 1 2006 22:02 | Last updated: December 1 2006 23:08

The importance to Wall Street of a handful of large hedge funds was starkly illustrated by the disclosure that Citadel Investment Group paid more than $5.5bn in interest, fees and other investment costs last year.

Although the net asset value of Citadel’s two funds is only about $13bn, its costs are high because its managers trade frequently and take on huge leverage.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this