Thursday, 24 July 2014
Last updated 26 min 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…