SAC To Close Flagship On Aug. 1

After months of mulling such a move, SAC Capital Advisors will close its flagship hedge fund to new money at the end of the month.

The Stamford, Conn.-based firm's International Fund, which has grown by about $2 billion since reopening to new investment last year, will close on Aug. 1.  The $14 billion firm is characterizing Monday's move as a "soft close," but SAC won't take new money from either existing investors or would-be new ones.