SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: StockDung7/15/2014 7:28:44 AM
   of 18998
 
Loeb's Third Point flagship fund gains 6 percent in first half
By Reuters
Wednesday, July 02, 2014

BOSTON (Reuters)—Billionaire investor Daniel Loeb's main hedge fund returned 6 percent during the first six months of 2014, beating many rival managers' largely lackluster returns but trailing his own performance from last year.Loeb's $14 billion firm Third Point told investors that its Third Point Offshore Fund gained 1.9 percent in June, leaving it up 6 percent for the first half of the year.

While the gains are not far off the 7.1 percent increase in the Standard & Poor's 500 stock index and handily trump the average hedge fund's 1.77 percent rise in the first half, according to data from Hedge Fund Research, they are nowhere near as strong as last year's returns when his flagship fund ended the year with a 25.2 percent gain.

Loeb's go-anywhere trading strategy has made the firm one of the industry's most successful with a 17.8 percent annualized return. But 2014 is proving to be tough for many managers as some of the industry's biggest stars have been surprised by an earlier drop in tech stocks plus U.S. bonds' relative strength.

Most managers are still preparing their month-end numbers but Loeb is usually among the first to give investors basic information on how he performed, sometimes acting as a bellwether for industry returns.

Two months ago, Loeb warned investors that bumpy trading could be ahead for the rest of the year.

By Svea Herbst-Bayliss

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News