Citadel Flagship Funds Are Said to Gain Almost 7% This Year

(Bloomberg) -- The two main funds at Ken Griffin's $27 billion Citadel have gained almost 7 percent this year, helped by its equity bets.

The Kensington and Wellington funds, which trade across asset classes, each rose 6.8 percent in the first seven months of the year, boosted by a 2.3 percent increase in July, a person familiar with the matter said. Stock wagers made by the firm's Global Equities and Surveyor units contributed the most to the gains, said the person, who declined to be named because the information is private.

Citadel's Tactical Trading Fund, which uses equity and quantitative strategies, rose 3 percent last month, bringing year-to-date performance through July to 4.9 percent. The Global Equities Fund has returned 4.2 percent so far this year, after rising 1.3 percent in July. Meanwhile, the Global Fixed Income Fund surged 10.6 percent in the first seven months, and was up 0.8 percent last month.

A spokeswoman for the firm declined to comment.

The average hedge fund rose about 2.6 percent this year through July on an asset-weighted basis, according to data compiled by Hedge Fund Research Inc.

To contact the reporter on this story: Hema Parmar in New York at hparmar6@bloomberg.net.

To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Alan Mirabella, Vincent Bielski