Pershing Square’s Ackman Moves into The Ranks of The Top 20 Most Successful Hedge Fund Managers
After Bill Ackman’s Pershing Square vehicle made a series of big bets on American stocks in 2014, the US activist investor has moved into the ranks of the top 20 most successful hedge fund managers of all time.
In
an otherwise muted year for the industry, Mr Ackman’s 33 per cent
return in 2014 placed him at number 19 of the top 20 funds based on the
total amount of dollar net profits they have made for investors after
fees.
Mr
Ackman was the only new entrant into the annual list compiled by LCH
Investments, the fund of hedge funds run by the Edmond de Rothschild
group, having generated $11.6bn in returns since Pershing Square was
launched in 2004.
Pershing Square is the youngest fund on the list, and Mr Ackman, 48, the youngest manager.
According
to LCH the top 20 managers generated $25.2bn in profits net of fees in
2014, while the wider hedge fund industry made net gains of $71bn.
George
Soros, the veteran hedge fund manager famed for betting against the
Bank of England’s attempts to defend the pound on “Black Wednesday” in
1992, remained top of the all-time list with his Quantum fund having
reclaimed pole position from Ray Dalio’s Bridgewater the previous year.
Source: Financial Times
