No SAC swoon in June
Now here’s a man who doesn’t let life’s troubles get him down.
Despite the stresses of a criminal probe and massive investor redemptions, hedge-fund honcho Steve Cohen eked out a sweet 1.5 percent return in June — beating the average hedge fund and the S&P 500.
The average equity hedge fund lost 1.9 percent in June, according to preliminary data from Hedge Fund Research.
The S&P 500, meanwhile, lost 1.7 percent last month as stocks slipped and bond prices jumped amid fears that the Federal Reserve will start tapering its $85 billion-a-month bond buying program.
Investors of Cohen’s SAC Capital have put in requests to yank roughly $5 billion from the $15 billion fund by the end of the year owing to concerns the Manhattan US Attorney’s Office is gearing up to file criminal charges against SAC for insider trading.

