Third Point Offshore TPOU Third Point June 2012 Performance

  Third Point Offshore (TPOU) - Third Point June 2012 Performance

RNS Number : 7623G
Third Point Offshore Investors Ltd
03 July 2012
 



            Third Point Offshore Investors Limited (the" Company")

 (a closed-ended investment company incorporated with limited liability under
              the laws of Guernsey with registered number 47181)

 

                      Third Point June 2012 Performance

                                   7/3/2012

 

Monthly Performance

                                   June   YTD   AUM(m)
Third Point Offshore  Fund, Ltd.  0.2%  3.9%   $4,532
S&P 500                           4.1%  9.5%

 

Performance Statistics^1

                            Third Point Offshore Fund Ltd. S&P 500
Annualized Return                      17.0%                5.7%
Cumulative Performance                 1,055%               138%
Annual Standard Deviation              13.4%                16.5%
Annual Downside Deviation               7.8%                11.4%
Correlation to S&P 500                  0.42                1.00
Sharpe Ratio                            1.24                0.42

 

 

Exposure and Performance

Long/Short Equity    Exposure             P&L
                     Long   Short   Net   Long   Short   Net
          Consumer   3.4%   -2.5%  0.9%  -0.1%    0.0% -0.1%
Energy & Utilities   4.0%   -1.8%  2.2%   0.3%   -0.1%  0.2%
        Financials   2.9%   -0.5%  2.4%   0.1%    0.0%  0.1%
        Healthcare   5.5%   -2.5%  3.0%  -0.1%   -0.3% -0.4%
    Ind. & Comdty.  10.1%   -6.8%  3.3%  -0.6%   -0.2% -0.8%
               TMT  20.0%   -3.1% 16.9%   0.6%    0.0%  0.6%
     Market Hedges   4.3%   -5.7% -1.4%   0.8%   -0.8%  0.0%
  Total L/S Equity  50.2%  -22.9% 27.3%   1.0%   -1.4% -0.4%

 

   Credit      Long   Short   Net   Long   Short   Net
  Distressed   5.9%    0.0%  5.9%   0.2%    0.0%  0.2%
  Performing  14.6%   -6.0%  8.6%   0.3%    0.0%  0.3%
       ABS^4  18.0%   -2.7% 15.3%   0.0%   -0.1% -0.1%
Total Credit  38.5%   -8.7% 29.8%   0.5%   -0.1%  0.4%

 

   Macro      Long   Short   Net    Long   Short   Net
       Gold   6.4%   -0.4%   6.0%   0.1%    0.0%  0.1%
 Government   1.3%  -17.9% -16.6%   0.1%   -0.1%  0.0%
  Tail Risk   0.5%   -0.9%  -0.4%   0.0%   -0.1% -0.1%
Total Macro   8.2%  -19.2% -11.0%   0.2%   -0.2%  0.0%

 

 

 

 

    Other        Long   Short   Net   Long   Short   Net
Risk Arbitrage   1.6%    0.0%  1.6%   0.1%    0.0%  0.1%
      Privates   2.3%    0.0%  2.3%   0.1%    0.0%  0.1%
    Currency^3   0.0%    0.0%  0.0%   0.5%   -0.5%  0.0%
   Total Other   3.9%    0.0%  3.9%   0.7%   -0.5%  0.2%

                                       

                                       

Geographic Exposure - Long/Short Equity Only

 

Long Exposure

Americas:  90%

EMEA:  11%

Asia: 0%

 

Short Exposure

Americas:  -25%

EMEA:  -22%

Asia: -4%

 

Net Exposure

Americas:  65%

EMEA:  -11%

Asia: -4%

 

 

Top Winners^2^  

Yahoo!
Inc.                                                                                                                                           

Progress Energy (Mult. Sec.)
                                                                                                                                               
News
Corp                                                                                                                                            
               

Portugal Obrigacoes do Tesouro        
                                                                                               
Gold                                                                                                                                                                      
                                                               
                                                               
                                                                                               
                                                                               
                               

Top Losers^2

Delphi
Corp                                                                                                                                          

Sara Lee
Corp                                                                                                                                        

Healthcare Short
A                                                                                                               

Healthcare Short
B                                                                                                                                

ABS Short
A                                                                                                                                                                         
                                               
                                                                                                                                                               
                                                                               
                                                                                               

Top Positions^ ^2

Yahoo!
Inc.                                                                                                                                                                           

Gold                                                                                                                                                                      

Delphi Corp

Chesapeake Energy
Corp                                                                                                                                                     

Apple Inc.                             

                                                                                                                               
                                                                                                               
               
                                                               

 

Position Concentration 

                Top 10    Top 20

Long        38%         49%

Short        23%         29%

 

1       All performance since inception, December 1996.     

2       Excludes currency, hedge and any confidential positions.

3       Gains and losses that are attributable to f/x price movements on
portfolio positions vs US dollar.

4       Includes RMBS, CMBS, and related indices.

 

 

 

 

 

 

Explanatory Note

 

All information provided herein is for informational purposes only and  should 
not  be  deemed   as  a  recommendation   to  buy  or   sell  the   securities 
mentioned.  The Third Point Offshore Fund, Ltd.  is a feeder fund in a  master 
feeder  structure  in  which  it  is  limited  partner  of,  and   contributes 
substantially all of its assets to, Third Point Offshore Master Fund L.P.  All
information contained  herein relates  to  the TP  Offshore Master  Fund  L.P. 
unless otherwise  specified.  P&L and  AUM information  are presented  at  the 
feeder fund level.

 

All P&L and performance results are based on the net asset value of fee-paying
investors  only  and   are  presented  net   of  management  fees,   brokerage 
commissions, administrative expenses, and  accrued performance allocation,  if 
any, and  include the  reinvestment of  all dividends,  interest, and  capital 
gains.  While performance allocations are  accrued monthly, they are  deducted 
from investor  balances only  annually  or upon  withdrawal.  The  performance 
above represents fund-level returns,  and is not an  estimate of any  specific 
investor's actual performance,  which may  be materially  different from  such 
performance  depending  on  numerous  factors.  All  performance  results  are 
estimates and  should  not  be  regarded  as  final  until  audited  financial 
statements are issued.

  

While the performance  of the Offshore  Fund has been  compared here with  the 
performance of a  well-known and widely  recognized index, the  index has  not 
been selected  to represent  an appropriate  benchmark for  the Offshore  Fund 
whose holdings, performance and volatility  may differ significantly from  the 
securities that comprise  the index.  Investors cannot  invest directly in  an 
index (although one can invest in an index fund designed to closely track such
index).

 

Past performance  is  not  necessarily indicative  of  future  results.    All 
investments involve risk including  the loss of principal.  This  transmission 
is confidential  and may  not  be redistributed  without the  express  written 
consent of Third Point  LLC and does  not constitute an offer  to sell or  the 
solicitation of an offer to purchase any security or investment  product.  Any 
such offer  or solicitation  may  only be  made by  means  of delivery  of  an 
approved confidential offering memorandum.

 

Website:   www.thirdpointpublic.com

 

Enquiries:

Company Secretary - Northern Trust International Fund Administration Services
(Guernsey) Limited

Tel:       +44 (0) 1481 745368

Email:   tl45@ntrs.com

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
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