Wednesday, 14 October 2015
Last updated 6 hours ago
Apr 3 2014 | 11:28am ET
Pershing Square Capital Management lost some ground in March, but not enough to deprive the New York-based firm of a double-digit return in the first quarter.
Pershing Square’s flagship fund fell 0.6% last month, it told investors yesterday. The decline left the fund up 10.7% on the year.
March proved a mixed month for the $13.1 billion firm. After more than a year of agitation for such a probe, the Federal Trade Commission last month opened an investigation into Herbalife, the nutritional supplements company that Pershing Square calls a pyramid scheme—and which it has a $1 billion short bet against. But its Herbalife gains were tempered by big losses on government-backed mortgage giants Fannie Mae and Freddie Mac. Pershing Square owns more than 10% of each company, betting they’ll survive plans to replace them. But their shares plummeted when a bipartisan deal to replace them emerged in the U.S. Senate.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…