William Ackman's hedge fund Pershing Square Capital
Management lost 7 percent last month but is still up for the year, one person
familiar with the firm's numbers said on Wednesday, according to Reuters..
Ackman and other managers are currently telling investors
how they fared in May, when the broader stock market tumbled 6 percent. A
spokeswoman for the New York-based Pershing Square declined to comment on the
numbers.
Through April, Pershing Square had been one of the $2
trillion hedge fund industry's best performers with a 10.2 percent gain. But in May the fund fell on tougher times,
when retailer J.C. Penney Co Inc, one of Pershing's biggest holdings, tumbled
27.3 percent….
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