Saturday, 29 August 2015
Last updated 8 hours ago
Apr 5 2010 | 1:08pm ET
The first quarter went out like a lion for hedge fund Third Point.
The $3 billion New York-based firm more than doubled its returns for the quarter last month, thanks in part to its credit and financials bets. The firm’s flagship Offshore fund added 8.1% in March, leaving up it 15.5% on the year.
The firm’s other funds did nearly as well, or better. Third Point Ultra added 9.1% on the month (16.5% YTD), Third Point Partners added 9% (16.9% YTD) and Third Point Partners Qualified added 8% (14.8% YTD).
Third Point’s funds rose about 38% last year.
This year, the hedge fund is benefitting from its big credit positions, which account for 64% of its total exposure. It also saw double-digit returns from its biggest financials holdings, Bank of America and Citigroup.
May 27 2015 | 2:15pm ET
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