Multi-strategy major Citadel's flagship Wellington fund recorded a 1.9% gain in January on the back of increased market volatility and amid uncertainty over the timing of interest rate cuts by the US Federal Reserve, according to a report by CNBC.

The report cites an anonymous source as confirming the increase which follows an annual gain of 15.3% in 2023, with all of the fund's five strategies – commodities, equities, fixed income, credit and quantitative — ending the month in positive territory.

Citadel's tactical trading fund, meanwhile, put on 2.6% for the month, while the $56bn firm's long-short equities fund was up 2.1%, according to CNBC's source.