Sunday, 23 November 2014
Last updated 1 day ago
Jan 8 2009 | 2:13am ET
While a more “Target-ed” hedge fund was battered last year, Pershing Square Capital Management’s largest fund suffered less than many of its peers. Pershing Square International, which manages almost $3 billion, fell 12% in 2008, hardly the kind of performance that pleases investors but better than the average hedge fund, which saw even larger double-digit losses last year.
The fund fell just 0.2% in December, the firm told investors in a Monday letter, Bloomberg News reports. It, too, was burned by retailer Target Corp.’s 31% decline on the year, but not nearly as badly as its Pershing Square IV fund, which invests exclusively in Target—with double leverage—and which lost 68% last year.
The International fund also lost money on its investments in Dr Pepper Snapple Group, Borders Group and Barnes & Noble.
Pershing Square is headed by noted activist investor William Ackman.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...