Cohen's SAC Capital Outperforms in June
Tweet
Share
E-mail
Steven Cohen's SAC Capital Advisors put together a decent June when compared with hedge fund peers.
Data out Tuesday has SAC up 1.5 percent for June and is now 8.25 percent better for 2013. The average hedge fund lost 2.1 percent last month, according to BofA/Merrill Lynch-compiled data, while the S&P 500 fell 1.7 percent.
Notably, the S&P 500 is still up 12.6 percent for the year.
SAC had seen about $3 billion of redemption requests amid the firm being under federal scrutiny. Despite the relatively solid performance, most investors are leery about being associated with a firm under such conditions, while others think a distracted Cohen might not be able to perform as well.
Well, Cohen is quieting the haters. For now.
Data out Tuesday has SAC up 1.5 percent for June and is now 8.25 percent better for 2013. The average hedge fund lost 2.1 percent last month, according to BofA/Merrill Lynch-compiled data, while the S&P 500 fell 1.7 percent.
Notably, the S&P 500 is still up 12.6 percent for the year.
SAC had seen about $3 billion of redemption requests amid the firm being under federal scrutiny. Despite the relatively solid performance, most investors are leery about being associated with a firm under such conditions, while others think a distracted Cohen might not be able to perform as well.
Well, Cohen is quieting the haters. For now.
Create E-mail Alert Related Categories
Hedge FundsRelated Entities
SAC Capital, Steven A. Cohen, Standard & Poor's, Hedge FundsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
