Nice! Citadel Rises 9.5% in June

Citadel Investment Group LLC’s main funds gained 9.5 percent in June as corporate bonds rose, beating an industry indicator that was little changed.

The Wellington and Kensington funds returned 31 percent in the first six months of the year, said a person familiar with the results who asked not to be named because the information is private. Chicago-based Citadel, founded by Ken Griffin, manages $12 billion.

Hedge funds grew an average of less than 1 percent in June, according to Hedge Fund Research Inc., which compiles indexes to track industry performance. Its Weighted Composite Index rose 9.4 percent for the first six months of the year.

“Despite the strong performance, managers still feel there is opportunity to monetize some of the dislocation that occurred over last four months of 2008,” Kenneth Heinz, president of Chicago-based Hedge Fund Research, said in an interview today.

Devon Spurgeon, a spokeswoman for Citadel, declined to comment on the funds’ performance.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aFwLwZGC7iqg