Hedge Funds

Cohen's SAC Capital hedge fund gains 20% for year: Source

Steven A. Cohen
Scott Eells | Bloomberg | Getty Images

Billionaire investor Steven A. Cohen's SAC Capital Advisors returned 20.1 percent this year, delivering some of the industry's best returns, even as his hedge fund pleaded guilty to insider trading charges and prepared to return outside capital.

The fund reported to outside investors late Monday that it gained 1.88 percent between Dec. 1 and Dec. 27, a source familiar with the numbers said.

A spokesman for the fund declined to comment.

Wednesday afternoon, a second source told CNBC.com that the return was closer to 19%.

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—By Reuters