Third Point Continues Its So-So Streak

The multistrategy fund headed by Dan Loeb reduced its exposure in August.

Illustration by II

Illustration by II

Another month, another mediocre performance for Dan Loeb’s Third Point in what has turned into a rough year for the multistrategy manager.

The sometime-activist hedge fund firm eked out a 0.1 percent gain in August in its Third Point Offshore Fund, which is now up just 0.6

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