BOSTON, April 1 (Reuters) - Billionaire investor William
Ackman's Pershing Square (NYSE:SQ) Holdings, Ltd fund lost 7.1 percent
last month, hurt largely by Valeant Pharmaceuticals (NYSE:VRX)' VRX.TO
roughly 60 percent tumble in March.
March's poor performance leaves Ackman's fund with a 25.6
percent loss for the year, a person familiar with its returns
said on Friday. This marks a dramatic turnaround from Pershing
Square's 40 percent gain in 2014.
Pershing Square owns a 9 percent stake in Valeant and the
company's stock tumbled last month when it cut its financial
forecasts and said it could face default if it fails to file its
annual report by the end of April. Last week the company's chief
executive officer agreed to step down and Ackman formally joined
the board.