Citadel Hedge Funds Gained Last Month as Equity Markets Slumped

(Bloomberg) -- Ken Griffin's Citadel posted gains of almost 5% for both its flagship hedge fund and its fixed-income fund in January, joining other multistrategy peers that profited in a month that battered equity markets.

The Wellington multistrat fund rose 4.7% and the Global Fixed Income fund advanced 4.9%, according to a person with knowledge of the matter. Chicago-based Citadel also recorded a gain of 0.9% for its Equities fund.

Citadel, which uses teams of traders to invest roughly $43 billion across various asset classes, joins multistrat firms such as Millennium Management, Balyasny Asset Management and Verition Fund Management in making money last month when prospects for interest rate increases weighed on stocks. The S&P 500 declined 5.3% and the tech-heavy Nasdaq Composite Index tumbled 9%.

Millennium and Verition funds ended January with gains of 1.7% and 0.2%, respectively, while Balyasny's Atlas Enhanced fund rose 2.4%, people familiar with the performance of those firms said.

Spokespeople for all of the firms declined to comment.

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