26th Apr 2019 17:06
LONDON (Alliance News) - Hedge fund Third Point Offshore Investors Ltd on Friday reported a fall in its net asset value in both share classes in 2018 within a challenging broader market environment.
Third Point reported a 10.9% negative return for its US-dollar share class in 2018, with its net asset value per share standing at USD17.24 at the end of the year. This was down from USD20.25 on the same date the year before.
Third Point's sterling-denominated share had a net asset value of GBP18.42 as at December 31, down from GBP19.21 at the end of 2017.
Third Point's US shares closed 0.5% lower at USD14.60 while its UK shares remained untraded at 1,150.00p on Friday.
Third Point said its weaker performance was driven by loss in equity long positions in the last quarter of the year, which declined along with markets dur to global uncertainties.
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