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 July 2015 Performance
8/4/2015
Monthly Performance
|
July |
YTD |
Third Point Offshore Fund,
Ltd. |
0.8% |
5.7% |
S&P 500 |
2.1% |
3.4% |
Historical Performance1
|
Third Point
Offshore Fund Ltd. |
S&P 500 |
Annualized
Return |
17.0% |
7.6% |
Exposure and
Performance2
Long/Short
Equity |
Exposure |
P&L |
|
Long |
Short |
Net |
Long |
Short |
Net |
Total
L/S Equity |
84.6% |
-18.0% |
66.6% |
1.7% |
-0.4% |
1.3% |
Total
Credit |
38.5% |
-11.1% |
27.4% |
-0.3% |
-0.1% |
-0.4% |
Total
Other |
5.8% |
-16.1% |
-10.3% |
-0.3% |
0.2% |
-0.1% |
Geographic Exposure – Long/Short
Equity Only
Long Exposure
Americas: 117%
EMEA: 8%
Asia: 4%
Short Exposure
Americas: -33%
EMEA: -4%
Asia: -8%
Net Exposure
Americas: 84%
EMEA: 4%
Asia: -4%
Market Capitalization3
<$5B: 8%
$5-10B: 6%
>10B: 86%
Position Concentration
Top
10 Top 20
Long
52% 67%
Short
25%
29%
1 All
performance since inception, December
1996 (net of fees).
2 Relates to
the Third Point Offshore Master Fund L.P.
3 Market
capitalization reflects only those holdings that are
exchange-listed equity or any synthetic equity with an underlying
reference instrument market capitalization.
Explanatory Note
Third Point Offshore Investors Limited is a feeder fund listed
on the London Stock Exchange that invests substantially all of its
assets in Third Point Offshore Fund, Ltd (“Third Point
Offshore”). Third Point Offshore is managed by Third Point
LLC (“Third Point” or “Investment Manager”), an SEC-registered
investment adviser headquartered in New
York. Third Point is primarily engaged in providing
discretionary investment advisory services to its proprietary
private investment funds (each a “Fund” collectively, the
“Funds”). Third Point’s Funds currently consist of Third
Point Offshore, Third Point Ultra Ltd. (“Third Point Ultra”), Third
Point Partners L.P. (“TP Partners LP”) and Third Point Partners
Qualified L.P. Third Point also currently manages three
separate accounts. The Funds and any separate accounts
managed by Third Point are generally managed as a single strategy
while Third Point Ultra has the ability to leverage the market
exposure of Third Point Offshore.
All performance results are based on the NAV 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 (quarterly for Third Point Ultra) or upon
withdrawal. The performance results represent fund-level
returns, and are 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.
The performance data presented represents that of Third Point
Offshore unless otherwise noted. Exposure data represents
that of Third Point Offshore Master Fund L.P. unless otherwise
noted.
While the performances of the Funds have 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 Funds 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 information provided herein is for informational
purposes only and should not be deemed as a recommendation to buy
or sell securities. 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.
Specific companies or securities shown in this presentation are
meant to demonstrate Third Point’s investment style and the types
of industries and instruments in which we invest and are not
selected based on past performance. The analyses and
conclusions of Third Point contained in this presentation include
certain statements, assumptions, estimates and projections that
reflect various assumptions by Third Point concerning anticipated
results that are inherently subject to significant economic,
competitive, and other uncertainties and contingencies and have
been included solely for illustrative purposes. No
representations, express or implied, are made as to the accuracy or
completeness of such statements, assumptions, estimates or
projections or with respect to any other materials herein.
Information provided herein, or otherwise provided with respect
to a potential investment in the Funds, may constitute non-public
information regarding Third Point Offshore Investors Limited, a
feeder fund listed on the London Stock Exchange, and accordingly
dealing or trading in the shares of that fund on the basis of such
information may violate securities laws in the United Kingdom and elsewhere.
Website:
www.thirdpointpublic.com
Enquiries:
Company Secretary – Northern Trust International Fund
Administration Services (Guernsey) Limited
Tel:
+44 (0) 1481
745640
Email:
AL184@ntrs.com