Third Point Surges 3.4% In January

Feb 2 2010 | 7:01am ET

Activist hedge fund Third Point enjoyed a hot start to 2010. The New York-based firm posted returns ranging from 3.4% to 4.2% across its funds in January, according to a letter to investors obtained by

Third Point’s largest fund, Offshore, rose 3.6% on the month, almost the precise opposite of the Standard & Poor’s 500 Index, which dropped slightly less than 3.6%.

Third Point Partners rose 3.4% last month. Third Point Partners Qualified was up 3.7%, and Third Point Ultra added 4.2%.

Third Point’s funds rose between 33% and 44% last year.

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