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

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.