NEW YORK, Sept 25 Steven A. Cohen's SAC Capital
Advisors hedge fund continues to post strong returns this year
even as it deals with a criminal indictment charging the $14
billion fund with being a breeding ground for insider trading.
A source familiar with the firm said Cohen's fund was up
about 13 percent this year as of last Friday and has had a
particularly good September.
The average hedge fund was up about 4 percent as of the end
In July, federal prosecutors indicted Cohen's firm, saying
it fostered a culture where employees flouted the law and were
encouraged to tap their personal networks of contacts for inside
information about publicly traded companies.
Meanwhile, SAC Capital and federal prosecutors have opened
preliminary settlement talks in an attempt to resolve the
criminal indictment against the firm, said two sources familiar
with the matter.
SAC had no immediate comment.