SAC Capital Advisors has gone some way to justifying what are believed to be the highest fees in the hedge fund industry by posting returns that have comfortably trumped rivals to its international fund this year.

SAC Capital International, one of the firm's funds, made 18.3% by the end of July, according to an investor document seen by Financial News. The industry as a whole made 12% over the same period, according to data providers Eurekahedge.