Citadel’s Wellington Hedge Fund Performance in August

By Carolina Mandl

NEW YORK (Reuters) – Citadel’s flagship hedge fund, Wellington, was up roughly 1% in August, according to a source familiar with the matter. This came after a month that began with a significant sell-off in equities.

Year-to-Date Performance

Year-to-date through August, the fund posted gains of 9.9%. All five of its strategies showed positive performance for both the month and the year.

• Tactical Trading Fund: Up 1.5% in August, 14.5% year-to-date.
• Equities Fund: Rose 0.8% in August, 9.3% year-to-date.

Citadel, managing $63 billion, declined to comment on this performance.

Bloomberg previously reported on Citadel’s Wellington performance.

Market Context

Fears of a U.S. recession and the unwinding of large currency positions based on the yen triggered heavy market sell-offs at the beginning of August, leading to a jump in the Cboe Volatility Index. The markets rebounded later in the month, causing the volatility gauge to decline.

More multi-strategy hedge funds managed to navigate the turmoil effectively. Reuters also reported that Schonfeld Strategic Advisors’ flagship fund, Strategic Partners, was up 1% in August, while its Fundamental Equity fund gained 0.5%.