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Loeb’s Third Point hedge fund up 19.4 percent through October

BOSTON (Reuters) – Hedge fund manager Daniel Loeb told investors that his Third Point Offshore Fund had returned 19.4 percent this year, ranking it among the industry’s best performers.

In October, Loeb’s fund gained 1.2 percent while the Standard & Poor’s 500 Index climbed 4.6 percent, according to information sent to clients and seen by Reuters.

With bets on Sotheby’s and Japan’s economic recovery, among others, Loeb has made investments around the world through a variety of strategies, including an activist bent where he is pushing for change at the auction house.

Like other managers, Loeb did not say which positions drove performance last month, saving those kinds of comments for his quarterly letters.

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