Thursday, 30 June 2016
Last updated 22 min ago
Jul 25 2011 | 2:06pm ET
SAC Capital Advisors has avoided the pitfalls that have found a great many of its peers this year.
The $14 billion hedge fund's flagship International fund is up 9.2% this year, Bloomberg News reports. The big return—the average hedge fund was close to flat in the first half, according to several industry indices—was achieved in spite of a pedestrian June, when SAC International rose just 0.14%.
Some of SAC's largest positions paid off big in the first half. Genzyme Corp., its top U.S. stock holding, was sold in April, while its second- and fifth-largest holdings have soared 12% and 29% this year, respectively.