While Steve Cohen’s SAC Capital Advisors may be in the middle of an insider trading scandal, the hedge fund firm is closing out its 2013 with a bang.
The Wall Street Journal reported that Connecticut-based SAC has outperformed its peers for the year; its flagship fund is up more than 20% through December 27, while its median multi-strategy fund saw a 9% increase through the end of November.
SAC’s performance comes despite a smaller staff, as some of its workforce has left to join rival firms as it transitions into a family office following its guilty plea to insider trading last month.
A grand jury charged SAC in July with wire fraud and four counts of securities fraud for allegedly allowing insider trading to go unchecked from 1999 through at least 2010. The SEC also charged SAC founder Steve Cohen in a civil lawsuit for failing to prevent insider trading at his firm.
SAC had about $14 billion in total assets under management as of July 1.