Wednesday, 20 August 2014
Last updated 33 min ago
May 2 2014 | 2:16pm ET
Pershing Square Capital Management’s small March drop proved just a hiccup as the hedge fund rallied last month.
The activist hedge fund jumped 7.3% in April, The Wall Street Journal reports. The firm’s Pershing Square L.P. fund is up 18.7% on the year.
Pershing Square’s April jump was fueled by its investment in Botox-maker Allergan Inc. The hedge fund announced last month that it had teamed with Valeant Pharmaceuticals International to take a nearly 10% stake in Allergan, and that it was backing Valeant’s hostile takeover bid.
Pershing Square dipped 0.6% in March. The fund returned 3.8% in January and 7.3% in February; it was up 9% last month.
Allergan is Pershing Square’s largest-ever investment, and word of the hedge fund’s partnership with Valeant sent the company’s shares up sharply.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note