Tue, Aug 30, 2016
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. Strategies - The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I, Hedge funds get more pushback on terms as enthusiasm for strategy wanes[more]

    The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I From IBTImes.co.uk: To illustrate a strategic gap common to today's portfolio managers, George Sokoloff, PhD, founder and CIO at Carmot Capital, proposes an interesting thought experiment – a breakdown of

  2. Institutional investors - Investors set to increase allocation to private debt, With investment income key, Richmond retirement system faces funding challenges[more]

    Investors set to increase allocation to private debt Investors are set to increase their allocation to private debt, with 60% revealing they believe the private debt market will grow over the next 12 months, according to a new study by Elian, a leading funds services provider. 41%

  3. Investing - Hedge funds snap up banks, unload Apple, Some of hedge funds' favorite stocks are finally starting to beat the market, Einhorn's Greenlight shifts positions, Treasury yield climbs to two-month high as Fischer joins hawks, 9 stocks smart investors put their money in last quarter[more]

    Hedge funds snap up banks, unload Apple From Barrons.com: Prominent hedge funds have a newfound love of big banks, and some have a distaste for shares of Apple, regulatory filings released last week show. The filings suggest that the funds have been pivoting their portfolios in recent mon

  4. Chesapeake energy seeks $1 billion loan to refinance debt[more]

    From Bloomberg.com: Chesapeake Energy Corp. is seeking a $1 billion loan as the company battered by cratering fuel prices and credit downgrades takes a step to address its $9 billion debt load. The natural gas producer hired Goldman Sachs Group Inc., Citigroup Inc. and Mitsubishi UFJ Financial Group

  5. Institutions - Nordic pension funds magnify focus on unlisted and direct investing, building up teams[more]

    From IPE.com: As bond yields remain at low or negative levels, pension funds and other institutional investors in the Nordic region are stepping up efforts to find higher returns by adding more unlisted investments to portfolios and are expanding in-house teams in order to do this, according to new