NEW YORK, Sept 4 Reuters Citadel39;s flagship hedge fund Wellington was up roughly 1 in August, a source familiar with the matter said, in a month which started with a brutal selloff in equities.

Yeartodate through August, the fund posted gains of 9.9, the source added, speaking on condition of anonymity. All of its five strategies had a positive performance both for the month and the year.

Its tactical trading fund was up 1.5 last month and is up 14.5 year to date, while the equities fund rose 0.8 in August and is up 9.3 in the year.

Citadel, which manages 63 billion, declined to comment on the matter.

Bloomberg reported earlier on Citadel39;s Wellington performance.

Fears of a recession in the United States and the unwinding of massive positions in currency trade based on the yen led markets to sell heavily in the beginning of August and the Cboe Volatility Index jumped. Markets later in the month rebounded and the volatility gauge slid.

More multistrategy hedge funds were able to navigate the turmoil. Reuters reported earlier that Schonfeld Strategic Advisors39; flagship fund Strategic Partners was up 1 in August and its Fundamental Equity fund gained 0.5.

Reporting by Carolina Mandl in New York; editing by Barbara Lewis and Jonathan Oatis

Source Reuters