performance

  • 22 Apr 2014 at 3:48 PM

Bill Ackman Doing Okay For Himself This Year

Every Ackman investment appears to have made money this year, including Beam, the Herbalife short and Platform Specialty Products Corp. Nutritional supplement maker Herbalife, for example, has been hit by reports of several government investigations into the company, which has helped push the stock down about 26 percent so far in 2014. The Pershing Square International fund is up 11.1 percent net of fees in the first quarter alone, according to a report by the HSBC Alternative Investment Group. [NetNet]

His Citadel LLC returned more than 300 percent in a fund started as a high-frequency strategy in late 2007, according to two people familiar with the Chicago-based money manager. The $830 million pool, which added other strategies in recent years, beat the 44 percent gain of the U.S. stock market in the six years through 2013 as well as Griffin’s two main hedge funds, which together have $8.8 billion in assets and rose 45 percent in the period. [Bloomberg]

Surprise, surprise: Low-key investment funds that diversify their portfolios across asset classes to protect them for the long term are again proving their value. So-called “risk parity” funds—run by prominent investment firms like Bridgewater Associates, AQR Capital Management and Invesco—are up an average of 3.3 percent through March, according to data from Morningstar, easily beating returns for stocks and bonds. That also is better than a classic 60-40 percent stock-bond allocation, which gained 1.87 percent in the first quarter. [NetNet]

  • 02 Apr 2014 at 11:30 AM

Pimco Doesn’t Need Your Pity

Investors pulled another $3.1 billion from Pimco’s flagship fund in March, the 11th straight month of outflows from the world’s largest bond fund, and its performance on the month lagged 95 percent of its peers due to a spate of wrong calls by long-time manager Bill Gross…Pimco spokesman Mark Porterfield said: “It’s important to compare a fund’s performance with its benchmark and not just with other mutual funds, which could hold riskier and higher-yielding assets. Total Return has outperformed its index for the past six months, two, five and 10 years.” [Reuters]

The good news: Bill Gross is taking baby steps toward being comfortable with employees looking him in the eye and one day might even be able to sustain an entire conversation in which no one averts their gaze. The less good news: performance year to date. Read more »

  • 04 Mar 2014 at 3:42 PM

Bill Ackman Doing Alright For Himself This Year

No one has made Herbalife “disappear” yet, as he recently requested, but Pershing was up 11.7 percent through February, and that’s something worth celebrating. Not crying tears of joy over, but raising a glass to, nonetheless. You want wet, raw, uncontrollable displays of emotion, you’re going to need to take Herbalife out in the middle of the night. Read more »

Ray Dalio > Louis Bacon > PTJ > Andy Hall

January’s numbers are in and they are… not great. Especially for Andrew Hall of Phibro fame, who, if he is in fact God, is proving the almighty rather fallible. Read more »