Bill Ackman’sPershing Square Capital Managementis taking steps to soften the tax blow for some of its investors already reeling from huge losses this year. Last Thursday the activist hedge fund firm disclosed that it had sold nearly 2.3 million shares of chemicals producer Platform Specialty Products Corp., leaving it with about 40.45 million, or 14.5 percent of the total outstanding.
In a regulatory filing, New York–based Pershing Square said it sold “high-cost-basis shares” for two onshore partnerships that have U.S.-taxable investors so the funds could generate a tax loss for their investors. Pershing Square International and Pershing Square Holdings, the firm’s two offshore funds, didn’t sell any Platform Specialty shares. PSI was off 16.7 percent for the year through November 6, while publicly traded PSH was down 20.7 percent year-to-date as of November 8.
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Boaz Weinstein’s $1.1 billion–plus Saba Capital Offshore Fund surged about 3.90 percent in October, boosting its gains for the year to 10.80 percent, according to the HSBC Holdings hedge fund database. We noted earlier that New York–based Saba Capital Management has been making sizable bets on closed-end mutual funds.
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Barington Partners是由James Mitarotonda的Barington Capital Group管理的Activist Hedge基金，上个月下降大约0.60％。这滴离开了纽约装备，该装备在今年到目前为止约为1.5亿美元，增长12.45％。
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Société Générale Prime Services reported that its flagship SG CTA Index posted a 2.60 percent loss in October, its second consecutive down month. As a result, the index has fallen 1.68 percent for the year. The SG Short Term Traders Index lost 2.15 percent in October and is now off 1.57 percent year-to-date; the SG Trend Index fell 3.87 percent last month, extending its loss for the year to 5.61 percent.
SG趋势指标指数甚至更糟“特别是这些损失主要由贵金属的短头寸和能量长的位置，以及欧欧政府债券的长职位驱动。”SOCGEN补充说，货币是唯一贡献积极趋势的趋势的部门，大多归功于美国与英镑和欧元的强大。
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Asian hedge funds enjoyed strong gains in the third quarter. The HFRI Emerging Markets: China Index jumped 7.5 percent, putting it slightly in the black for 2016, according to Hedge Fund Research. The HFRI Emerging Markets: Asia-ex Japan Index rose 6.7 percent and is now up between 4 percent and 5 percent for the year.
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Seth Klarman’sBaupost Groupliquidated its stake in ChipMOS TECHNOLOGIES (Bermuda) as of October 31. The Boston-based hedge fund firm had owned 3.75 million shares of the semiconductor testing and assembly services provider at the end of the second quarter.
Baupost also slashed its position in Kindred Biosciences by more than two thirds, to about 965,000 shares, or 4.85 percent of the total outstanding. At the end of the second quarter it had held 3 million shares of the development-stage biopharmaceutical company.
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在其最近发布了quarterly report, private equity giant Carlyle Group said that $400 million invested in petroleum commodities by one of its hedge funds and certain structured finance vehicles managed by a Carlyle affiliate was “misappropriated by third parties outside the U.S.” The loss is related to a Moroccan oil refinery deal, theWall Street Journalreportedlast week, citing people familiar with the matter. The plan was for the hedge fund, Vermillion, to get a cut of revenue from Société Anonyme Marocaine de l’Industrie du Raffinage, but Moroccan authorities seized the facility last year after it suffered financial woes. This year the refinery was put into liquidation, according to theJournal.