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Another Day, Another Piece For The KRS Puzzle

January 4th, 2013 · 1 Comment

Let’s take another look at SAC Capital:

While Steve Cohen has been in the news lately because of former and current employees’ alleged involvement in insider trading, the hedge-fund manager has continued to do what he does best: make money.

SAC Capital International, Cohen’s flagship fund, was the world’s most-profitable hedge fund in the first 10 months of 2012, earning $789.5 million for Cohen, 56, and his managers

-SNIP-

SAC Capital International is No. 1 not because of performance; it ties for No. 86 on that measure, with a 10 percent return in the Markets ranking of the 100 top-performing funds. Rather, the fund earned the most money because Cohen charges some of the highest fees on Wall Street. While most funds impose a 1 to 2 percent management fee and then take 15 to 20 percent of the profits, Cohen levies 3 percent and as much as 50 percent, according to investors.

Click here to read the rest from Bloomberg.

It gets really sticky.

Looks like even more fun for Kentucky Retirement Systems.

Tags: Corruption · Wasted Money

1 response so far ↓

  • 1 Chris Tobe // Jan 5, 2013 at 11:01 am

    Key here is SAC is the most profitable Hedge Fund with the highest fees. Higher fees means more money to grease the system with placement agents and other forms of kickbacks.