Bill Ackman Says Pershing Square Has Achieved a 20% Gross Annual Return Since Inception and Aims to Keep Beating That Bar. Can His Newly Launched Funds Live Up to the Track Record?
Yahoo Finance ·
Hedge fund manager Bill Ackman's firm, Pershing Square, went public on U.S. markets with its Pershing Square USA ( PSUS +0.10% ) fund, backed by his big-name notoriety and a strong track record of success. Ackman , one of the world's most famous investors, has run the Pershing Square hedge fund since Jan. 1, 2004, when he formed Pershing Square Capital Management. The fund launched with $54 million in assets, and now the core strategy has about $24 billion in assets across different funds. Since its inception, the hedge fund has averaged a 15.6% compound annual return, beating the S&P 500 's 11%. On a gross return basis, before fees, the fund has averaged an annual return of 20% since inception, Ackman wrote in an Aug. 12 letter to shareholders.
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