Ackman's private hedge fund Pershing Square LP up 6.8per cent month-to-date, up 0.8per cent year-to-date: source

Ackman's private hedge fund Pershing Square LP up 6.8per cent month-to-date, up 0.8per cent year-to-date: source

Billionaire investor William Ackman, who hedged his portfolio weeks ago to guard against coronavirus-inspired panic selling, told investors that his private hedge fund is making money this year, an investor said on Wednesday.

FILE PHOTO: FILE PHOTO: William Ackman of Pershing Square Management
FILE PHOTO: William Ackman, CEO and Portfolio Manager of Pershing Square Management, is pictured during the Harbor Investment Conference in New York, U.S. on February 13, 2013. REUTERS/Shannon Stapleton/File Photo

BOSTON: Billionaire investor William Ackman, who hedged his portfolio weeks ago to guard against coronavirus-inspired panic selling, told investors that his private hedge fund is making money this year, an investor said on Wednesday.

Pershing Square LP gained a net 6.8per cent this month, leaving it up 0.8per cent after fees for the year to date, the source said. By comparison the average equity-focused hedge fund is down 15.5per cent for the month through Thursday, with average year-to-date losses at nearly 16per cent, data from Goldman Sachs show.

(Reporting by Svea Herbst-Bayliss; Editing by Sandra Maler)

Source: Reuters

Bookmark