Hedge fund Citadel posts gains in April as markets fell

Ken Griffin, Founder and CEO, Citadel, speaks during the Milken Institute’s 22nd annual Global Conference in Beverly Hills, California, U.S., April 30, 2019. REUTERS/Mike Blake

BOSTON, May 2 (Reuters) – Hedge fund Citadel avoided April’s stock market drop and posted gains in its most prominent strategies, easily besting the average hedge fund returns which were in the red last month.

Ken Griffin’s Citadel told investors that its multi-strategy flagship Wellington fund gained 7.45% last month, as the S&P 500 index dropped nearly 9%.

Citadel Equities gained 4.25%, while the firm’s Global Fixed Income fund gained 3.05% and its Tactical Trading portfolio rose 3.30% in April. A spokesman for the firm declined to comment.

Citadel manages over $50 billion in assets and its gains place the firm’s portfolios in contrast to those of many other hedge funds.

The HFRX Equity Hedge Index fell 1.29%, according to data provider Hedge Fund Research while the HFRX Global Hedge Fund Index was off 0.7% last month.

Citadel’s Wellington fund extended its year to date gains with April’s rise and is now up 12.65% in the first four months of 2022.

Tactical trading has gained 9.75% this year while Global Fixed Incom is up 13.10% and Citadel Equities is up 7.75%.

Reporting by Svea Herbst-Bayliss; editing by Barbara Lewis

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