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?
Ackman is about to embark on a new venture.
Overview
Hedge fund manager Bill Ackman's firm, Pershing Square, went public on U.S. markets with its Pershing Square USA (NYSE: PSUS) 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.
Details
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%.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.