UPDATE 1-Schonfeld's flagship fund caps 2024 up 19.7%, source says

Adds 2023 return, details about performance after paragraph 1

By Carolina Mandl

NEW YORK, Jan 2 (Reuters) - Schonfeld's flagship hedge fund Strategic Partners was up 19.7% in 2024 while its Fundamental Equity fund gained 21.1%, a source familiar with the matter said, as the firm posted back-to-back gains every month last year.

The funds' performances compares with more modest gains in 2023, when Schonfeld's flagship fund was up 3% and the Fundamental Equity rose 4.8%.

All of its four strategies - quantitative, tactical, fundamental equity and discretionary macro - drove returns higher last year, the source said.

The United States led returns in terms of regions where Schonfeld trades, but Asia Pacific and Europe, the Middle East and Africa also contributed. Roughly 40% of Schonfeld's risk exposure is outside the United States.

Among the trading opportunities the firm took advantage of last year are high-yield and investment-grade credit, relative value strategies and some stock sectors, such as technology, healthcare and industrials.

(Reporting by Carolina Mandl in New York; Editing by Mark Porter)

((carolina.mandl@thomsonreuters.com; +1 (917) 891-4931;))