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Citadel makes gains in March despite market turmoil

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While the market sell-off triggered by last month’s SVB/Signature/Credit Suisse banking crisis left many hedge funds nursing losses, Citadel notched up gains across its portfolios during March, according to a report by Reuters.

While the market sell-off triggered by last month’s SVB/ Signature/Credit Suisse banking crisis left many hedge funds nursing losses, Citadel notched up gains across its portfolios during March, according to a report by Reuters.

The US hedge fund firm, which earned a record $16 billion profit in 2022, recorded a gain of 1.38% for its flagship Citadel Wellington fund, leaving it up 4.19% for the first quarter, according to an unnamed investor in the fund.

Citadel’s Tactical Trading fund meanwhile, reportedly gained 2.18% last month and is up 5.46% in the first quarter, while the firm’s Equities fund climbed 2.16% last month and is up 4.56% for Q1 2023. The Global Fixed Income fund was flat in March but is up 1.77% in the first quarter.

By comparison, preliminary reports from Hedge Fund Research indicate that the average hedge fund loss was 1% last month, with some strategies, including macro and trend-following funds, and CTAs, seeing much bigger falls of 3.2% and 6.8% respectively.
 

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