William “Bill” Ackman, founder and chief executive officer of Pershing Square Capital Management has fallen out of a list of the top 20 best-performing hedge fund managers of all time one year on from breaking into it after his Pershing Square fund lost several billion dollars over 2015.
Mr Ackman’s rapid entrance and disappearance from an annual list compiled by LCH Investments, the fund of hedge funds run by the Edmond de Rothschild group, illustrates the challenge faced by hedge funds which aim to generate consistently outsized returns without risking catastrophic losses.
The LCH Investments list measures hedge fund traders by the total dollars they have made for investors since launching. It shows that Ray Dalio of Bridgewater, the founder of the world’s largest hedge fund, reclaimed the top spot from the semi-retired George Soros.
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Read the full story at Financial Times, by Miles Johnson (Subscription)
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