Aug 18, 2017

Ackman’s Pershing Square suffers hit as Herbalife rallies

In its first set of financial results since it floated on the London Stock Exchange in May, the investor's US-focused fund, Pershing Square Holdings, reported that it had lost 1.7 per cent in the year-to-date. The value of Pershing Square's position in Herbalife fell by 2.9 per cent, making the business the fund's worst-performing holding. In the year to August 15, the value of Pershing Square's position in ADP rose by 1.4 per cent. A long position in global food giant Mondelez International declined by 2.2 per cent after the maker of Oreo Cookies and Cadbury chocolates reported a decline in quarterly sales and was hit by a global cyber attack in late June that affected a range of multinational companies. Shares in Pershing Square fell 1.1 per cent to £10.87p on Friday.

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