Overview
Third Point Offshore is a feeder fund and invests all of its capital (net of expenses and short term working capital requirements) in Class E Shares of Third Point Offshore Fund Ltd (the “Master Fund”), details of which are set out below. The Master Fund’s investment objective is to achieve attractive returns by using an event-driven, bottom-up, fundamental approach to evaluate various types of securities throughout companies’ capital structures.
Research History
-
24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
-
15 Oct 2019 7 min read
Investment companies quarterly roundup – Third quarter 2019
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford New research Over the third quarter, we published notes on India Capital Growth, Jupiter Emerging & Frontier Income, Montanaro European Smaller Companies, JLEN Environmental Assets, Civitas Social Housing, JPMorgan Russian Securities, International Biotechnology Trust, Aberdeen Emerging Markets, Seneca Global Income & Growth, Standard Life Investments Property Income […]
-
14 Sep 2018 2 min read
QuotedData’s Economic round up – September 2018
QuotedData’s Economic round up – September 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
-
1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
-
25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
-
18 Apr 2018 1 min read
QuotedData’s investment companies roundup – April 2018
QuotedData investment companies roundup – April 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of March 2018. Kindly sponsored by Baillie Gifford. Stock markets have suffered their first meaningful fall for nearly two years. At the quarter end, […]
News
-
12 Sep 2022 3 min read
QuotedData’s morning briefing 12 September 2022
In QuotedData’s morning briefing 12 September 2022: HgCapital (HGT) has posted its interim results for the six months ended 30 June 2022. During that time, the NAV increased by 1.8% though its share price fell by 20.5%. This compares with its benchmark which also fell by 4.6%. The trust has declared an interim dividend of […]
-
06 Apr 2022 1 min read
QuotedData’s morning briefing 6 April 2022
In QuotedData’s morning briefing 6 April 2022: Following the announcement of the preliminary results of its 2022 exchange facility last month, Third Point Investors (TPIL) will return from escrow approximately 50% of TPIL Shares to validly electing shareholders, leaving a small reserve to be held until the finalisation of the 31 March 2022 NAV in […]
-
19 Jan 2022 2 min read
AVI calls for review and appointment of new independent director in latest saga with Third Point
AVI calls for review and appointment of new independent director in latest saga with Third Point – Asset Value Investors, manager of the AVI Global Trust (AGT), and three other shareholders representing over 18% of Third Point Investors Limited (TPIL) ordinary shares, have requisitioned the board of TPIL to convene an EGM at which shareholders […]
-
23 Dec 2021 2 min read
Third Point chairman steps down – “impossible to continue”
Third Point chairman steps down – “impossible to continue” This morning, the board of Third Point Investors announced that its chairman, Steve Bates, was leaving the board. The company issued the following statement: “The Board of Third Point Investors Ltd (“TPIL” or the “Company”) announces with regret that the Chairman, Mr Steve Bates, has determined […]
-
24 Nov 2021 3 min read
QuotedData’s morning briefing 24 November 2021
In QuotedData’s morning briefing 24 November 2021: Nippon Active Value (NAVF) has confirmed gross proceeds of £14m were raised from the recent issue of 10,021,432 new Ordinary Shares at 139.70 pence per share. This represents a 1.5% premium to the NAV per share at close of business on 22 November 2021. Shares will be issued […]
-
13 Sep 2021 3 min read
QuotedData’s morning briefing 13 September 2021
In QuotedData’s morning briefing 13 September 2021: Montanaro European Smaller Companies (MTE) is due to undertake a share split, whereby a sub-division of each ordinary share of 50 pence each will be split into 10 new ordinary shares of 5 pence each. The new ordinary shares are to be admitted to trading on the premium […]
-
01 Sep 2021 2 min read
Third Point Investors to borrow $150m as it declines second EGM requisition
Third Point Investors to borrow $150m as it declines second EGM requisition – Third Point Investors has entered into a loan agreement to employ gearing and will seek approval of an extension of its exchange facility as part of a previously announced package of changes aimed at enhancing shareholder value. The credit facility will see approximately $150m borrowed […]
-
25 Aug 2021 1 min read
AVI requisitions Third Point Investors to address ‘entrenched trading discount’
AVI requisitions Third Point Investors to address ‘entrenched trading discount’ – Asset Value Investors (AVI), which manages AVI Global, along with three other shareholders in Third Point Investors (TPIL) have requisitioned the TPIL board to consider steps and actions to address its discount, as revealed in a letter published today. The key shareholders collectively own more […]
-
05 Jul 2021 1 min read
AVI requisitions Third Point Investors meeting
AVI requisitions Third Point Investors meeting – AVI and three other shareholders in Third Point Investors Limited, who between them owning over 17% of Third Point, have today requisitioned the Third Point Investors’ board to convene an extraordinary general meeting. At the meeting, shareholders would vote on a resolution to change Third Point’s investment policy. AVI […]
-
20 May 2020 2 min read
QuotedData’s morning briefing 20 May 2020
Rolls-Royce says it will shed 9,000 jobs in response to the covid-19 crisis – it expects any recovery in the airline industry to take several years (click here to read more). JPMorgan Asia Growth & Income (JAGI) reported interim results to end-March with the total market return coming in at (6.6%) compared with (9.3%) for the […]
-
29 Apr 2020 4 min read
Review of 2019 from Hedge fund trust Third Point Offshore Investors as it prepares name-change motion
Third Point Offshore Investors (TPOU), the events-driven bottom-up-focused hedge fund managed by Daniel S. Loeb’s Third Point LLC, focuses on four strategies where it believes it has a competitive advantage in markets: activist and governance-focused investments; credit securities; short selling; and identifying emerging compounder securities. . Long equity positions lead returns while exposure to Argentine default detracts […]
-
30 Apr 2019 1 min read
Hedge fund trust Third Point Offshore Investors has solid start to 2019
Hedge fund trust Third Point Offshore Investors has solid start to 2019 – Third Point Offshore Investors (TPOU) announced in December 2018 that it would migrate its entire portfolio into a newly-created share class of the underlying Master Fund managed by Dan Loeb and his team (you can read more about this story here). TPOU […]
-
28 Dec 2018 1 min read
Third Point Offshore restructures to cut fees
Third Point Offshore restructures to cut fees – Third Point Offshore Investors has announced that, as of January 1, 2019, it will switch its entire portfolio into a newly-created share class of the underlying Master Fund managed by Dan Loeb and his team. The new share class will be subject to a 25% quarterly redemption gate. […]
-
01 Mar 2018 2 min read
Third Point to sort out its discount
Third Point to sort out its discount – The board of Third Point Offshore Investors says it is committed to maximising shareholder value and protecting the interests of all the company’s stakeholders. The plan includes: a move to the Official List qualification for the FTSE UK Index Series conversion of sterling shares to US dollar shares a new […]
-
28 Apr 2017 1 min read
Third Point Offshore returns 6% for 2016
Third Point Offshore Investors Limited has announced its full year results for the twelve months ended 31 December 2016. The net asset value appreciated 6.1% for the U.S. Dollar and 5.6% for the Sterling share classes, respectively, in 2016. They say that performance was driven primarily by positive returns in the Master Fund’s corporate and sovereign credit positions. Gains […]
-
07 Feb 2017 1 min read
All trust sectors bar one made money in ’16
UK Smaller Companies was the only investment sector to lose money in 2016 despite a turbulent political and economic landscape, new research has revealed. See more here
-
15 Nov 2016 2 min read
Dolphin sells Playa Grande golf resort
Dolphin Capital Investors has entered into an agreement for the disposal of its Playa Grande Golf and Resort project, including the Amanera resort, in the Dominican Republic to Third Point LLC. The deal is being done an enterprise value of EUR140 million which represents a 10% discount to the project’s carrying gross asset value as at […]
-
17 Oct 2016 1 min read
10 YEARS OF PA: The birth of infrastructure funds, to property in turmoil
The investment company sector has changed considerably over the past ten years, as back in October 2006 we were still enjoying the dying days of the credit boom. read more here
-
19 Apr 2016 1 min read
Third Point Offshore NAV slips in 2015
During 2015, the Third Point Offshore’s net asset value depreciated approximately 3% across both share classes (-2.58% on the US dollar share class and -2.92% on the Sterling share class). The performance was driven primarily by negative returns in the long equity portfolio managed by Third Point LLC (the “Investment Manager”) in the volatile investment environment […]
-
27 Aug 2015 2 min read
26 August interim results roundup
A quick summary of interim results for periods ended 30 June 2015 announced on 26 August 2015 APAX Global Alpha reported its first set of results since listing. Its NAV was up 8% over H1 2015 t0 €1.79. BH Global said at the six month stage on 30 June 2015 the Net Asset Value per […]
-
15 Apr 2015 1 min read
Third Point flat in H2 2014 but better start to current year
Third Point Investors has announced results for the year ended 31 December 2014. Over the year the NAV total return was 6.5% for the US dollar share class and 6.8% for the Sterling share class (all of the Euro class was merged in with the dollar class during the year). Most of that return was […]
