Hedge funds are back, baby.
Three top hedge funds told investors yesterday that they beat the
S&P 500 Index in May, The Post has learned.
Leading the trio was Barry Rosenstein, whose Jana Partners
gained 4.4 percent during the month after announcing two new activist positions
in late April — Oil States and Ashland Oil.
Those stocks gained 10.2 percent and 4.4 percent in May, respectively —
compared with a 2.1 percent uptick for the S&P 500.
Dan Loeb’s Third Point Partners finished with a 3.8 percent
gain. Loeb’s big win in May came from a $1.1 billion stake in Japanese
electronics giant Sony that he announced on May 14, calling for a breakup of
the company. Sony gained 22.6 percent for the month…..
Read all about it at http://www.nypost.com/p/news/business/hedgies_beat_in_may_H73KDFWexoglpSPdztzV8L
No comments:
Post a Comment