Saturday, 3 December 2016
Last updated 19 hours ago
May 7 2013 | 11:53am ET
It took Third Point just four months to reach double-digit returns in 2013, putting the hedge fund on pace to exceed its 2012 returns and nearly match its huge 2011 returns.
Third Point Offshore rose 1.4% last month and is up 10.5% on the year. Last year, it returned more than 20%, and in 2011 about 40%.
Third Point said its biggest positions were Yahoo!, Virgin Media, American International Group, International Paper and Ally Financial. Yahoo! and AIG were among the chief reasons for the hedge fund's April gains, alongside its bets on Greek sovereign debt and Japan Tobacco. A Japanese macro investment also paid off.
On the other hand, Third Point lost ground on gold and Banco do Brasil, as well as two short positions.