Citadel Flagships Up 8.4%

May 5 2011 | 12:13pm ET

Citadel Investment Group is almost halfway to being able to reap performance fees on its flagship hedge funds.

The hedge fund giant's Kensington and Wellington funds rose 0.44% in April. The two funds are up 8.4% through the first four months of the year, MarketWatch reports.

Kensington and Wellington began the year needing to return about 20% to return to their high-water marks and recoup all of 2008's losses. The funds rose 11% last year and 62% in 2009.

Citadel's gains are well ahead of industry indices, which are up less than 3% on the year. But they trail slightly the broader markets, with the Standard & Poor's 500 Index rising 9.06% on the year.

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