Premise: BOSTON, Oct 2 (Reuters) - William Ackman’s Pershing Square Capital Management staunched two months of bloodletting in September, with his flagship fund eking out a tiny gain, leaving its main fund roughly flat for the year, according to a performance update. The activist investor told clients that the Pershing Square LP fund inched up 0.2 percent last month, marking an improvement from August’s 3.6 percent loss and July’s 2.2 percent decline, according to an update which was seen by Reuters.
Hypothesis: Ackman told clients of his Pershing Square Capital Management hedge fund that its main portfolio rose 2.4 percent in June, putting the fund up 25 percent for the year, according to two investors.