NEW YORK – Steven A. Cohen's $15 billion hedge fund SAC Capital Advisors posted a 1.5 pct gain in June, according to an investor familiar with the numbers.
For the year, that SAC Capital main fund is up about 8.25 percent after fees, the source said. Cohen's fund charges some of the highest fees in the $2.2 trillion hedge fund industry.
Hedge funds on average lost about 2.1 percent in June, according to analysts at Bank of America Merrill Lynch.
Cohen's better than expected performance came as an insider trading probe focused on his fund heated up in the first half of the year, with outside investors asking to redeem billions of dollars by the end of 2013.
(Reporting by Katya Wachtel and Matthew Goldstein; Editing by Gerald E. McCormick)