NEW YORK (Reuters) -Citadel'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 sell-off in equities.

Year-to-date 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 strategy was up 1.5% last month and is up 14.5% year to date.

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

Bloomberg reported earlier on Citadel'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 multi-strategy hedge funds were able to navigate the turmoil. Reuters reported earlier that Schonfeld Strategic Advisors' flagship fund Strategic Partners was up 1% in August and its Fundamental Equity fund gained 0.5%.