SAC Hit With $1.7 Billion In Redemptions

Feb 19 2013 | 9:34am ET

Investors moved to pull almost $1.7 billion from SAC Capital Advisors at Thursday's redemption deadline, significantly more than the hedge fund said it expected and in spite of the firm's moves to reassure clients over an insider-trading probe.

Clients put in redemption notices for $1.68 billion. SAC will pay out about $660 million next month and the rest over the course of the year; the firm's policies allow investors to withdraw only one-quarter of their money per quarter.


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