Billionaire investor Ken Griffin’s hedge fund climbed again last month, lifting its year-to-date gain to almost 32%, according to a person familiar with the returns. Citadel’s multi-strategy flagship fund Wellington rallied 0.9% last month, bringing its 2022 performance to 31.8%, the person said. All five core strategies in the fund — commodities, fixed income and macro, equities, quant and credit — were positive year to date, the person said. Macro hedge funds, those making bets around political or economic events, have fared particularly well this year as a major policy shift from global central banks stoked wild moves in different asset classes including bonds, stocks, commodities and currencies. Other than the flagship fund, Citadel’s global fixed income fund, tactical trading fund and equities fund are all up by double digits this year, the person said. The wider stock market suffered a tumultuous meltdown this year with the S & P 500 falling into a bear market. The benchmark is down more than 17% in 2022 as recession fears intensified on the back of the Federal Reserve’s aggressive rate hikes to tame surging inflation. Citadel’s assets under management exceeded $50 billion in May.
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