FILE PHOTO: William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid/File Photo
(Reuters) – William Ackman’s publicly traded hedge fund gained nearly 3% this year, though the billionaire investor warned of volatility ahead as world markets reel under the economic hit from the coronavirus epidemic.
Pershing Square Holdings Ltd on Monday said NAV, a key performance measure for investment companies, was $27.7 per share as of March 9, up 2.8% year-to-date.
Various hedges “more than compensated” for recent market declines that hit portfolio companies, Ackman said in a letter to shareholders.
Markets worldwide have come under pressure as the coronavirus spreads rapidly across the globe, causing widespread supply disruption and large-scale quarantine measures as governments scramble to contain the outbreak.
“We expect the capital markets and our…