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Ken Griffin’s Citadel Hedge Fund Gained 7.5% in April Even as Markets Tanked

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Ken Griffin Says 4% Inflation Needed to Avoid Recession

Ken Griffin’s Citadel scored a 7.5% return for April in its main hedge fund even as U.S. stocks posted their worst performance in decades.

The $50 billion firm’s Wellington fund is up 12.7.% so far this year, making money in all five of its main strategies, according to a person familiar with the matter. The fund is market neutral, meaning its bullish wagers are matched with bearish ones with the aim of producing returns that are uncorrelated to markets. It’s also a multimanager, multistrategy platform with separate groups of traders who invest across assets classes and geographies.