Another investor pulls money from hedge fund SAC (Fund News)
Reuters reports that Ironwood Capital Management plans to pull about $100m from hedge fund SAC Capital Advisors, adding to the list of problems for Steven A. Cohen.
George Soros joined Northern Trust Corp. and BlackRock Inc. in cutting holdings of exchange-traded products backed by gold before a bear market in prices last month, while John Paulson maintained a stake that lost about $165m in the first quarter.
Anthony Chiasson sentenced to 6-1/2 years in prison (Fund News)
Former Level Global Investors LP fund manager Anthony Chiasson on Monday was sentenced to 6-1/2 years in prison for insider trading, a penalty that the judge in the case said was intended to deter others in the financial industry from similar conduct.