RenTech, Citadel Rise In August

Sep 2 2011 | 11:42am ET

Most hedge fund managers will spend the long weekend decrying their bad fortune last month—most, but not all.

Two of the industry's biggest names posted positive returns in August, as stocks slid and the average hedge fund took a beating. Citadel Investment Group's flagship hedge funds continued their renaissance, while Renaissance Technologies also raked it in in its two largest funds.

RenTech's  Institutional Equities Fund rose 5.4% last month while its Institutional Futures Fund added 6.6%. The funds are up an impressive 25.6% and 9.16%, respectively, for the year.

Ctiadel's Kensington and Wellington funds rose a more modest 1% in August, and are up 15% on the year. The firm's Global Equities Fund returned 1.6% last month to reach 14% for the year, according to Reuters.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…