Long Short Net Americas
16% -17% -1%
Europe
6% -10% -4%
Asia
0% 0% 0%
Total
22% -27% -5%
Event Driven, Value Investing
Please see important disclosures on page two.
March YTD
AUM(m)
Third Point Offshore Investors LimitedUSD Share Class-3.1% -1.5%
$1,144S&P 500 +8.8% -11.0%
All figures are as of March 31, 2009 unless otherwise stated. The statistics above represent the monthly and year-to-date return applicable to the Net Asset Value of the USD share class of Third Point Offshore Investors Limited (the “Company”). AUM is that of the Offshore Fund.
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Third Point LLC |
390 Park Ave | New York, NY, 10022 |
Tel 212-224-7416 |ir@thirdpoint.com
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Wyeth/Pfizer ArbitrageCiti Cap. Structure ArbitragePHH Corp. Aspen Technology, Inc.Deutsche Boerse AGCiti Cap. Structure ArbitrageShort Basic Materials AShort Consumer AShort Consumer BShort Financial A
ThirdPoint OffshoreFund Ltd.S&P500
Last 12 Months -31.1% -38.1%3 Yr Annual Average Return -6.9% -13.1%5 Yr Annual Average Return 4.6% -4.8% Average Annual Return Since Inception 15.4% 2.2% Average Annual Stan. Dev. Since Inception 13.8% 16.4%Sharpe Ratio Since Inception 0.9 -0.1Correlation to S&P 500 0.4 1.0
March 2009
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******
Top 10 Top 20Long 28% 33%Short 24% 32%PHH Corp. The Phoenix Companies, Inc. Wyeth/Pfizer ArbitrageDepotMed, Inc.Short Healthcare A
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* Top positions and market capitalization are long public equities only.** Top winners and losers are public equities only *** Top (long or short) individual equities exposure, excluding indices & other market hedges,divided by AUM.
Credit#
Long Short Net Long ShortNet
Government
0.0% -38.0% -38.0% 0.0% -0.6%-0.6%
Corporate
13.4% -13.8% -0.4% 0.0% 0.0%0.0%
Distressed
2.8% 0.0% 2.8% 0.1% -0.1%0.0%
# Short exposure primarily represents market value protection through CDS
Other Equity Long Short Net Long ShortNet
Risk Arbitrage
13.1% -12.0% 1.1% 1.7% -2.6%-0.9%
Precious Metals
8.1% 0.0% 8.1% 0.0% 0.0%0.0%
Privates
4.5% 0.0% 4.5% -0.2% 0.0%-0.2%
Other
14.2% 0.0% 14.2% 0.1% 0.0%0.1%
Long/Short Equity Exposure P&LLong Short Net Long ShortNet
Basic Materials
0.5% 0.0% 0.5% -0.1% -0.6%-0.7%
Communications
0.0% 0.0% 0.0% -0.1% 0.0%-0.1%
Consumer
2.9% -12.7% -9.8% 0.2% -1.1%-0.9%
Energy
0.1% 0.0% 0.1% -0.2% 0.0%-0.2%
Financials
9.9% -10.4% -0.5% 1.1% -0.8%0.3%
Healthcare
6.1% -2.8% 3.3% 0.1% 0.2%0.3%
Industrials
0.0% 0.0% 0.0% 0.0% 0.0%0.0%
Technology
0.0% -0.9% -0.9% 0.0% -0.1%-0.1%
Utilities
3.2% -0.5% 2.7% 0.1% -0.1%0.0%
Market Indices / FX
0.0% 0.0% 0.0% 0.0% 0.0%0.0%
Total
22.7% -27.3% -4.6% 1.1% -2.5%-1.4%
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Long/Short Equity Only
26%23%51%0%10%20%30%40%50%60%70%<1B1B to 5B>5B
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