Saturday, 26 July 2014
Last updated 1 day 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…