Thursday, 2 October 2014
Last updated 1 hour ago
Mar 21 2013 | 1:38pm ET
In spite of a continuing insider-trading probe, redemption pressures and a massive $616 million settlement bill, SAC Capital Advisors' ability to make money does not seem to have been affected.
The $15 billion hedge fund is up about 4% this year through early March, Reuters reports. That's ahead of the average hedge fund, but well behind the more than 9% the Standard & Poor's 500 Index has returned this year.
SAC was up 3.4% through the first two months of the year.
SAC last week agreed to pay $616 million to settle with the Securities and Exchange Commission over the allegedly illegal trading of former portfolio manager Mathew Martoma, who faces criminal insider-trading charges. A longtime lieutenant of SAC founder Steven Cohen, Michael Steinberg, is also awaiting arrest on unrelated insider-trading charges. And federal authorities continue to look into the firm, hoping to build a case against Cohen himself.
Sep 22 2014 | 4:15pm ET
Sep 30 2014 | 9:29am ET