Citadel’s Flagship Fund Sees Approximate 1% Increase in August, According to Source

By Carolina Mandl

NEW YORK – Citadel’s flagship hedge fund, Wellington, reported an approximate 1% increase in August, according to a source familiar with the situation. This performance came amid a challenging month that began with a significant sell-off in the equity markets.

Year-to-date through August, the fund has achieved gains of 9.9%, with all five of its strategies generating positive returns both monthly and YTD.

Specifically, the tactical trading fund experienced a 1.5% rise last month, bringing its year-to-date gain to 14.5%. Meanwhile, the equities fund was up 0.8% in August and has recorded a 9.3% gain for the year to date.

Citadel, managing $63 billion in assets, opted not to comment on these figures.

Earlier reports highlighted the performance of Citadel’s Wellington fund.

August began on a tumultuous note, driven by concerns over a potential recession in the United States and the unwinding of large currency positions related to the yen, leading to heavy selling in the markets and a spike in the Cboe Volatility Index. However, there was a recovery later in the month, resulting in a decline of the volatility gauge.

Other multi-strategy hedge funds also managed to navigate the turbulent environment successfully. Reports indicated that Schonfeld Strategic Advisors’ flagship fund, Strategic Partners, was up 1% in August, while its Fundamental Equity fund rose by 0.5%.