Billionaire Steven A. Cohen's hedge fund firm recorded a strong return in June amid the worldwide sell-off. SAC Capital Advisors, Cohen's business, was under intense inspection as part of an insider trading scrutiny.
One of SAC Capital's foremost funds posted a 1.5% increase for the month. This allowed its portfolio to gain 8.25% for a year, following deducting fees.
According to an investigator aware with statistics, SAC charged few of the largest fees in the US$2.2 trillion hedge fund industry.
The hedge fund research enterprise's, eVestment, vice president Peter Laurelli stated that SAC's latest 13F revealed that it was tactically positioned to earn from selling stocks. The 13F regulatory filing detailed the firm's stock holdings.
"If you review SAC's 13F filed May 15, it is interesting that two of the top three positions are index put options," Laurelli added. "To me, that would explain a lot of the positive return in a negative environment."
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