Citadel's flagship fund Wellington posted a 1.8% return in October, boosting the fund's performance for the year to 6.8%, according to a person familiar with the matter.
Other funds at Citadel, which was founded by billionaire Ken Griffin, also delivered positive returns for investors. Miami-based Citadel's Global Equities fund was marginally ahead of Wall Street's main stock index and rose 2.3% in October and 10.4% for the year through October 31, the source said, requesting anonymity as the return figures are confidential. The S&P 500 (.SPX) climbed 2.2% last month.
The firm's Tactical Trading fund posted gains of 2.7% in October and jumped 13.4% for the January to October period, while its Global Fixed Income fund rose 1.1% in October and 7.3% year-to-date through October, the source said.
Other leading hedge funds such as Millennium Management and Balyasny Asset Management also posted gains during the month of October, according to people familiar with the matter.
Global hedge fund capital rose to a record of almost $5 trillion in the third quarter and the number of hedge funds is at a decade high, according to a recent report by Hedge Fund Research. The growth coincides with almost $34 billion in new investor money allocated to hedge funds in the third quarter, the highest quarterly net asset inflow since the third quarter of 2007.
