As billionaire investor Steven A. Cohen deals with a spate
of redemptions out of his own hedge fund, another firm in which his SAC Capital
Advisors has money saw returns plummet in the first four months of the year.
Adams Hill Capital, run by former SAC equity portfolio
manager Andrew Schwartz, was down 8.34 percent to the end of April, according
to an investor note reviewed by Reuters.
In the same period, the S&P 500 stock index rose more than 12.7
percent and hedge funds on average gained about 4.6 percent, according to hedge
fund tracking firm eVestment. Adams Hill lost about 7.4 percent alone in April,
when the stock market gained 1.9 percent. It could not be determined whether
the hedge fund made up ground in May. Adams
Hill, along with another firm called Scopus Asset Management, is listed on
regulatory filings as an adviser to an SAC Capital portfolio, meaning it
manages a dedicated pool of money for Cohen's hedge fund….
Wait…wait…there’s more at http://www.businessinsider.com/fund-managing-sac-capital-money-down-8-2013-6
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