Performance

Multi-Strategy: Citadel outpaces rivals

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On the heels of continued low volatility, multi-strategy funds had a stable if un-spectacular month. Also, because of low volatility and widening credit spreads, convertible arbitrage - generally a large component of multi-strategy funds - had a tepid month, with many funds posting returns in the zero to 1% range.

Renaissance Technologies' Medallion International fund was a winner in the strategy, posting a 1.60% gain.

The WPG Multi Strategy Arbitrage Overseas Fund was a more typical example of how multi-strategy funds fared, posting a monthly gain of 0.17%.

Citadel looked poised to outpace most of its multi-strategy rivals for the