Sun, Feb 1, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Embattled hedge fund SAC Capital continues to outperform with 13% gains YTD

Thursday, September 26, 2013

Komfie Manalo, Opalesque Asia:

Embattled hedge fund manager Steven Cohen continues to defy the odds as SAC Capital Advisors’s main hedge fund outperforms its rivals and registered 13% gains as of last Friday, various media reported. Meanwhile, the $14bn firm is facing criminal charges for alleged insider trading.

SAC Capital’s good fortune outweighs its counterparts as Reuters reported that the average hedge fund earned about 4% YTD as at end August.

Even at the height of the emerging markets selloff in June, when most hedge funds registered negative returns, his fund posted a 1.5% gain during the month (+8.25% YTD). In June, the average hedge fund lost about 2.1%, according to Bank of America Merrill Lynch

Last July, U.S. Federal prosecutors indicted SAC Capital and accused the firm of promoting a culture that allows its portfolio managers and analyst to gather or trade using inside information on various stocks while employed at the firm. U.S. attorney Preet Bharara described SAC as a "magnet for market cheaters".

As some investors have been pulling out, SAC has had to let go of some sales and marketing staff. Reuters also reports that to avoid an exodus from the traders, SAC committed to paying them a 3.5% bonus next year if the......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Ex-Citi trader launches 'sleep-at-night’ long/short equity fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalaurMor Management in New Yor

  2. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  3. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  4. Update: Prosecutors seek 12 years for hedge fund manager Francisco Illarramendi[more]

    Komfie Manalo, Opalesque Asia: Federal prosecutors have asked the court to sentence convicted hedge fund manager Francisco Illarramendi to 12 years imprisonment for running an elaborate Ponzi scheme that bilked investors hundreds of millions in dollars, including a Venezuelan pension fund, report

  5. Institutions - Ontario pension fund leader calls all asset classes ‘expensive’, Taiwan's BLF plans $2bn in alternative mandates[more]

    Ontario pension fund leader calls all asset classes ‘expensive’ From WSJ.com: The head of one of the world’s largest pension funds said that across asset classes, “everything is expensive.” Ron Mock, who leads Canada’s $141 billion Ontario Teachers’ Pension Plan, said that the plan would