Monday, 29 August 2016
Last updated 2 days ago
Feb 6 2013 | 2:21pm ET
Insider-trading probe or no, SAC Capital Advisors continues to make money for its clients.
SAC's flagship fund rose 2.5% last month, the final month before investors have to turn in their redemption notices, CNBC reports. Despite strong performance last year—SAC returned 13%—the hedge fund expects more than $1 billion in withdrawals due to the fraud probe.
SAC's January wasn't exactly stellar; it was in line with or better than the average hedge fund, which returned between 1% and 2.6% last month, according to industry indices. But it made only half the 5.1% return posted by the Standard & Poor's 500 Index in the year's first month.
Other prominent hedge funds, including Omega Advisors and Jana Partners, managed January returns more in line with the broad-market index.