Big name fund managers lose money in March as US rally stalls
But most of the hedge funds are still boasting gains for the quarter
Boston
SOME of the world's most prominent hedge-fund managers suffered losses last month as the US stock market's rally stalled, but most are still boasting gains for the quarter.
William Ackman's US$20 billion Pershing Square Capital Management, which ranked among last year's best performers with a 40 per cent gain, dipped 3.1 per cent in March as shares in Herbalife Ltd, a stock he bet would fall, climbed anew. For the year, however, the fund has gained 3.5 per cent, an investor said on Thursday.
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