Aug
26
Ackman’s Pershing Square Loses 2015 Gains Amid August Stock Rout
ByPershing Square Holdings, the publicly traded security of Bill Ackman’s activist hedge fund, lost gains made this year and fell into the red amid recent market volatility tied to China.
The reversal was “largely driven by the decline of the Chinese stock markets, and the fear that slowing growth in China will have repercussions for businesses around the world,” according to an interim report published Wednesday.
The closed-end fund’s assets had grown to $7.4 billion at the end of July from $6.6 billion on Jan. 1 — a gain that has subsequently “been erased, and the company is at a loss position for the year,” the report shows…
Ackman’s Pershing Square Loses 2015 Gains Amid August Stock Rout
