Hedge fund firm run by billionaire Steven A. Cohen, SAC Capitol Advisors announced that they are seeing a strong return of investments in June despite the global market sell-off.
For the month of June, one main fund managed by SAC Capital posted a 1.5% gain, upping the portfolio ratings to 8.25% for the current year, after deducting fees.
Sac Capitol outperformed both the broader market and the average for hedge funds which were set for the month. This occurred during the tumultuous period that is settling over both global bond and stock markets.
Investors of SAC are expressing worries due to the federal government investigaton focused on Cohen. They are saying that they the issue might distract the billionaire and more than 115 portfolio managers under SAC.
Reuters previously reported that a sharp selloff in bonds and stocks tripped big-name hedge fund firms. Included in the list are Ray Dalio's Bridgewater Associates, David Einhorn's Greenlight Capital Management and Daniel Loeb's Third Point.
SAC Capitol Advisors did not provide details for the contributing factors that affected the performance results in June.
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