Citadel Kensington, Wellington Up 26%

Jan 4 2013 | 1:23pm ET

For the second-straight year, Citadel Investment Group's flagship hedge funds have returned in excess of 20%.

The Kensington and Wellington funds, which managed a collective $7 billion, rose about 26% last year, Crain's Chicago Business reports. The funds returned 20.4% in 2011, allowing them to breach their high-water marks for the first time since they lost more than half their value in 2008.

The average hedge fund returned in the mid-single-digits last year.

Citadel's assets under management are up to $14 billion, from $11 billion at the beginning of the year.

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