Citadel Flagships Finish Q1 Up 11%

Apr 10 2009 | 11:04am ET

Citadel Investment Group’s two flagship hedge funds continued their slow climb back last month, recouping another 3% after last year’s disastrous losses.

Both the Kensington Global Strategies Fund and Wellington Fund, which manage a combined $7.7 billion, were up approximately 11% in the first quarter, Dow Jones Newswires reports. The funds returned 2.6% in February and 4.75% in January, the first time in seven months the funds had posted positive returns.

The funds lost some 55% last year, leading the Chicago-based firm to suspend redemptions. In February, Citadel chief Kenneth Griffin announced that the firm would create a “distribution program” that would allow investors to get some of their money back eventually. According to DJ, the firm has not announced any details of that program yet.


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