Citadel Investment Group’s flagship hedge funds continued their rebound last month, bringing their returns for the first two months of the year to almost 8%.
The Kensington and Wellington funds returned 2.6% in February, the New York Post reports. The funds rose 5% in January, getting Citadel off on the right foot as it tries to recoup the massive losses suffered by the funds last year. Kensington and Wellington dropped by more than half amidst the economic crisis.
Those huge losses, combined with an avalanche of redemption requests, led Citadel to impose a withdrawal freeze on the funds in December. Last month, in a letter to investors, Citadel founder Kenneth Griffin promised a “distribution program” that would allow investors to get their money out of the funds, albeit very slowly and only when Citadel deems it advisable.