SAC Up 13%

Sep 26 2013 | 11:24am ET

If SAC Capital Advisors founder Steven Cohen is nearing the end of his hedge-fund career, he's going out strong.

Stamford, Conn.-based SAC is up about 13% through last Friday, Reuters reports. The firm is having a particularly strong September, the news agency's source added.

In July, SAC was indicted on criminal insider-trading charges. The firm is reportedly in talks with prosecutors about a plea deal, one which could bar SAC from managing outside capital. Either way, the firm is unlikely to have much left: Investors have filed redemption requests for substantially all of their money with the firm, about $5 billion of its $14 billion in assets under management. All of the redemptions will be paid out by the end of the year.

SAC's double-digit returns compare much more favorably with the broader markets than does the average hedge fund, which was up in the low single digits through August. The Standard & Poor's 500 Index is up more than 18% this year.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of