May Looks Good for Hedge Fund Managers

June 5, 2017 James Heinsman Hedge Fund News

As spring arrives not just flowers are blooming. Several hedge fund managers announced that their bets have finally beat the gains of the stock market in general, after a dark winter of slow growth.

Daniel Loeb, chief of Third Point, a $16 billion manager, told his investors that his Third Point Partners LP fund rose 2.1% in May, and the more aggressive Third Point Ultra posted a 3.5% gain.

William Ackman had similar news for his investors. Pershing Square Capital Management, an $11 billion fund, added 2.4% to its bottom line in May.

Both managers were able to beat the average for the hedge fund industry in the month of May of a 0.24% gain, while the S & P 500 stock market index had a 1.4% increase.

The past five months of 2017 was good to Loeb and his funds. Third Point Partners had a gain of 9.9% while the Ultra fund climbed 16.1% in the same time period. Ackman’s Pershing Square is up 4.3% since the year began, recovering from two straight years of shrinking.

Daniel Loeb, Pershing Square Capital Management, Third Point Partners, William Ackman,

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