Hedge Fund Managers Finally Perform Better in May
Some hedge fund managers have finally managed to beat the stock market’s gains in May. Third Point, told investors his Third Point Partners LP fund gained 2.1 percent in May while its more aggressive Third Point Ultra Ltd fund climbed 3.5 percent. The Pershing Square Holdings Ltd fund, run by Ackman’s $11 billion Pershing Square Capital Management increased by 2.4 percent in May.
“Both funds beat the average hedge fund’s 0.24 percent gain in May and Standard & Poor 500 1.4 percent gain in May.”
Both funds beat the average hedge fund’s 0.24 percent gain in May and Standard & Poor 500 1.4 percent gain in May. The gains come at a critical time as industry investors protest poor returns with calls for lower fees.
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