BOSTON (Reuters) – 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 6.8% this month, leaving it up 0.8% after fees for the year to date, the source said. By comparison the average equity-focused hedge fund is down 15.5% for the month through Thursday, with average year-to-date losses at nearly 16%, data from Goldman Sachs show.
(Reporting by Svea Herbst-Bayliss; Editing by Sandra Maler)
