Titan Advisors reports 7.2 percent gain; SAC investment was strong

BOSTON Wed Jan 9, 2013 5:33pm EST

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BOSTON (Reuters) - Money manager Titan Advisors, which has made headlines for planning to pull money from Steven A. Cohen's SAC Capital Advisors, clearly got a boost from the hedge fund industry powerhouse's recent returns.

Titan, which invests roughly $3 billion for pension funds and wealthy individuals, released preliminary performance data for its funds to clients on Wednesday, according to documents reviewed by Reuters.

The Titan Masters International Fund, which invests with roughly two dozen hedge fund managers, gained 7.22 percent last year while the Titan Global Equity fund climbed 4.72 percent.

Cohen's $14 billion SAC Capital Advisors gained 12 percent and ranked among the industry's better performers.

Still, Titan told investors by telephone late last year that it would be exiting SAC.

In November, Cohen and SAC drew fresh scrutiny in a government insider trading probe.

Titan investors have still not gotten anything in writing about the move, one person who has money with the firm said.

Titan has been telling investors that it now has a preference for smaller funds.

Titan's decision to pull out of SAC shocked some on Wall Street as George Fox, Titan's founder, and Cohen have known each other for years.

For the Titan Masters International fund, 2012 was its best year since 2009, when it gained 21.20 percent. The Global Equity fund swung to gains in 2012 after having lost 1.67 percent in 2011.

One of Titan's fund's returns beat the industry benchmark where the HFR Fund of Funds Composite Index gained 5.25 percent.

(Reporting By Svea Herbst-Bayliss; Editing by Leslie Adler)

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