Monday, 22 December 2014
Last updated 3 hours ago
Jun 5 2009 | 11:20am ET
It took a strong May, but Third Point is back in the black.
The New York-based hedge fund enjoyed a better-than-average month as it played catch-up with the rest of the industry. All four of its funds did at least twice as well as Hedge Fund Research’s HFRX Global Hedge Fund Index, which added 3.15%, according to the firm’s monthly report, obtained by Dealbreaker.com.
And Third Point, headed by noted man of (angry) letters Daniel Loeb, needed it: The all four funds had actually lost ground through April.
The firm’s $1.2 billion Offshore Fund jumped 7.4% in May to end the month up 5.4%. But it was actually Third Point’s smallest fund, $151 million Ultra, that did the best, rising 8.5% to leave its year-to-date return at 6.5%.
Both the Partners and Partners Qualified funds returned 6.4% in May. The former, which manages $175 million, is up 4.3% on the year, and the $333 million latter is up 4.1%.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.