Ken Griffin, billionaire investor and hedge fund manager, stunned the market with a huge outperformance in April. This was despite extreme volatility and a severe market turmoil.

According to an insider, Citadel’s multi-strategy flagship fund Wellington saw 7.5% growth last month. This brings its year-to date performance to 12.7%.

Griffin’s other investments also performed strongly, with global fixed income, tactical trading, and equity funds both rising by 3%, and Griffin’s equity fund climbing more than 4 percent in April.

It was the best performance in the entire market, which suffered from a severe sell-off due mainly to worries about Fed’s aggressive tightening, Russia’s invasion of Ukraine and surging inflation at 40-year highs. This is the S&P 500It lost 8.8% in April which was its lowest month since March 2020, when the Covid pandemic began.

The April selloff was centered on technology stocks, which were hit hard by high supply chain problems and interest rates. There are many other factors that could have contributed to the April sell-off. Nasdaq CompositeThe bank’s April performance was 13.3%, the worst since October 2008 during the financial crisis.

All five core investment strategies at Citadel — equities, commodities, global fixed income and macro, credit, and quantitative strategies — registered gains last month and are in the green for 2022, the person said.

Investors are looking for downside protection amid the volatility spike caused by rising rates and fears of inflation as well as geopolitical tensions. Hedge fund industry attracted its largest inflows in seven yearsThe first quarter.

According to a person, Citadel had more assets under management than $50 billion at the beginning of May.