SAC Up 4% Through Early March

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.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR