TEMPUS

Fund shows why it’s hip to be square

The Times
A position in the home improvement retailer Lowe’s Companies performed well for Pershing Square Holdings thanks to American consumers fixing up their properties during lockdown
A position in the home improvement retailer Lowe’s Companies performed well for Pershing Square Holdings thanks to American consumers fixing up their properties during lockdown
ALAMY
The Times

Pershing Square Holdings
This investment company has been doing its prospects of easing into the FTSE 100 blue chip index no harm whatsoever (Miles Costello writes).

In its latest glowing update published yesterday, the FTSE 250 company overseen by the hedge fund billionaire Bill Ackman, 54, boasted a return on its portfolio for the year to Tuesday of 48.2 per cent. That knocks into a cocked hat the 5.8 per cent return over the same period by its benchmark the S&P 500.

This sort of performance has made it more valuable than the wealth manager St James’s Place and the housebuilder Barratt Developments, both members of the FTSE 100 while it remains a midcap.

The only thing holding the fund back seems to be the