Tuesday, 28 July 2015
Last updated 12 hours ago
Aug 3 2012 | 10:58am ET
Pershing Square Capital Management managed to beat the markets in July, rising 1.5% on the month.
The return tops the 1.26% return for the Standard & Poor's 500 Index. But Pershing Square still has a long way to go to catch the broad-market index for the year.
The S&P was up more than 10% through the first seven months of the year. Pershing Square's $4.5 billion flagship was up just 3.8% over that period, and its offshore Pershing Square International 3.5%.
It's been a busy few months at the activist hedge fund. In June, it helped engineer a reverse merger to bring Burger King Worldwide back to the New York Stock Exchange, a deal that left it with 12% of the fast-foot chain. A month earlier, it won a proxy fight with Canadian Pacific Railways, seeing its entire seven-director slate, including Pershign Square founder William Ackman, elected to the company's board of directors. Last month, it announced it had made its largest-ever initial investment in a company, buying 1% of Procter & Gamble, and also bid farewell to its first analyst, Scott Ferguson, who will launch his own hedge fund.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…