Ackman's Pershing Square Holdings gains 5.8 percent in August

Thu Sep 1, 2016 7:36pm EDT
 
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BOSTON, Sept 1 (Reuters) - Billionaire investor William Ackman's portfolios climbed nearly 6 percent in August, boosted by strong gains at drug company Valeant Pharmaceuticals International Inc where changes that the hedge fund manager has helped push for appear to be instilling new confidence.

Pershing Square Holdings, one of the hedge fund's portfolios, climbed 5.8 percent last month, shrinking its loss for the year to 14.3 percent, an investor in the fund said. In March the fund had been down 25.6 percent.

Valeant gained roughly 39 percent in the last month. (Reporting by Svea Herbst-Bayliss; Editing by Leslie Adler)