SAC investors edge toward the exits

Investors in Steve Cohen’s SAC Capital Advisors are starting to get restless.  Three big banks — Citigroup, Morgan Stanley and Société Générale — have been making moves that could eventually lead clients to pull money from the $14 billion hedge fund, the NY Post reports.

Citi’s private-banking unit has put SAC on its watch list and recommended that clients not add to their investments in the hedge fund.  The same decision was made by Morgan Stanley, according to CNBC, which first reported the moves.  Lyxor Asset Management, part of French bank Société Générale, has already asked to withdraw its clients’ funds from SAC.

The moves came after a former SAC portfolio manager, Mathew Martoma, was arrested Nov. 20 on insider-trading charges. The complaint made reference to Cohen, who has not been charged with wrongdoing…..

Find out more at http://www.nypost.com/p/news/business/sac_investors_edge_toward_the_exits_aO2KV3TE8hDfmlLhdqa2hO