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Citadel Hedge Funds Jump 8.8%, Extending Hot Streak

Katia Porzecanski
Kenneth Griffin

Ken Griffin’s flagship multi-strategy funds extended their solid performance this year through the first half, returning 8.8 percent.

Citadel’s Kensington and Wellington funds, which jumped 13 percent last year, gained 1.5 percent in June, according to a person with knowledge of the matter who asked not to be identified. The first-half performance was led by equity, commodities and fixed-income strategies while credit and quantitative wagers also made money, the person said.

Griffin, who founded the $30 billion firm, is beating his main rival, Izzy Englander’s Millennium Management. Its flagship fund is up almost 6 percent in the first half after being little changed in June, a person familiar with the matter said. Overall, hedge funds have gained 1.2 percent this year on an asset-weighted basis, according to Hedge Fund Research, while the S&P 500 Index returned 2.7 percent through June, with dividends reinvested.

Representatives for Chicago-based Citadel and Millennium declined to comment.

Citadel’s Global Equities fund gained 0.2 percent in June, bringing performance for the first half to 5.2 percent. The Global Fixed Income fund was flat last month, leaving returns for the first six months at about 7.1 percent, while the Tactical Trading fund, which uses equity and quant strategies, jumped 1.7 percent in June and is up 7.8 percent for the year.

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