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  • 2014 09 September Monthly Report TPOI

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    ValueWalk
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    The document provides a summary of Third Point Offshore Fund's exposure and performance for September 2014 and year-to-date. Some key details include: - The fund was down -0.3% in September but up 6.0% year-to-date, outperforming the S&P 500 which was down -1.4% and up 8.3% respectively. - The largest strategy allocations were to long/short equity at 80.3% and credit at 36.0%. - Geographically, the largest exposures were to the Americas at 106% long and -32% short, and EMEA at 15% long and -4% short.

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    2014 09 September Monthly Report TPOI

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    The document provides a summary of Third Point Offshore Fund's exposure and performance for September 2014 and year-to-date. Some key details include: - The fund was down -0.3% in September but up 6.0% year-to-date, outperforming the S&P 500 which was down -1.4% and up 8.3% respectively. - The largest strategy allocations were to long/short equity at 80.3% and credit at 36.0%. - Geographically, the largest exposures were to the Americas at 106% long and -32% short, and EMEA at 15% long and -4% short.

    Copyright:

    © All Rights Reserved
    Flag for inappropriate content
    1K views1 page

    2014 09 September Monthly Report TPOI

    Uploaded by

    ValueWalk
    The document provides a summary of Third Point Offshore Fund's exposure and performance for September 2014 and year-to-date. Some key details include: - The fund was down -0.3% in September but up 6.0% year-to-date, outperforming the S&P 500 which was down -1.4% and up 8.3% respectively. - The largest strategy allocations were to long/short equity at 80.3% and credit at 36.0%. - Geographically, the largest exposures were to the Americas at 106% long and -32% short, and EMEA at 15% long and -4% short.

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    © All Rights Reserved
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    of 1

    Exposure P&L September YTD

    September 30, 2014


    Event-Driven, Value Investing
    Exposure & Performance
    1
    Performance
    Net ThirdPointOffshoreFund,Ltd. 0.3% 6.0%
    TotalL/SEquity 80.3% 20.4% 59.9% 0.8% 0.1%
    Long Short Net Long Short
    0.7% S&P500 1.4% 8.3%
    TotalCredit 36.0% 6.5% 29.5% 0.1% 0.1% 0.2%
    Americas 106% 32% 74%
    TotalOther 5.0% 0.0% 5.0% 0.8%
    Historical Performance
    Offshore S&P500
    Market Capitalization
    2
    AnnualizedReturn
    3
    17.5% 7.5%
    0.1% 0.1% TotalMacro 8.7% 13.5% 4.8% 0.0%
    0.9% 0.1%
    Gross Allocation by Strategy
    Geographic Exposure
    Long Short Net
    EMEA 15% 4% 11%
    Asia 9% 4% 5%
    Position Concentration
    Top10 Top20
    Long 49% 64%
    2
    Marketcapitalizationappliesonlytothelong/shortequitystrategyandreflectsonlythoseholdingsthatareexchangelistedequityoranysyntheticequitywithanunderlyingreferenceinstrument
    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
    totheTPOffshoreMasterFundL.P.unlessotherwisespecified.P&LandAUMinformationarepresentedatthefeederfundlevel.
    All P&L and performance results are based on the net asset value of feepaying 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 fundlevel returns, and is not an estimate of any specific investors actual performance, which may be materially
    differentfromsuchperformancedependingonnumerousfactors.Allperformanceresultsareestimatesandshouldnotberegardedasfinaluntilauditedfinancialstatementsareissued.

    While the performance of the Offshore Fund has been compared here with the performance of a wellknown 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
    onecaninvestinanindexfunddesignedtocloselytracksuchindex).
    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
    bemadebymeansofdeliveryofanapprovedcondenaloeringmemorandum.
    1
    RelatestotheThirdPointOffshoreMasterFundL.P.
    3
    Allperformancesinceinception,December1996.
    Short 26% 31%
    Arb
    >$10B
    83%
    $510B
    11%
    <$5B
    6%
    Long/Short
    Equity
    Credit
    ABS
    Macro
    Other
    Arb
    0%
    20%
    40%
    60%
    80%
    100%
    120%
    140%
    160%
    180%
    Apr14 May14 Jun14 Jul14 Aug14 Sep14
    ThirdPointLLC|390ParkAvenue|NewYork,NY10022|ir@thirdpoint.com

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