July 10, 2017 / 9:17 AM / a year ago

Third Point Ultra fund up 0.9 pct in June amid Nestle campaign

LONDON, July 10 (Reuters) - Hedge fund Third Point’s Ultra fund gained 0.9 percent in June, taking its year-to-date performance to 17.2 percent, a source familiar with the matter said on Monday, giving activist investor Dan Loeb a boost as he pushes for a shake-up at Nestle.

Third Point, a New York-based hedge fund, revealed a $3.5 billion stake in Nestle in a June 25 letter to shareholders.

It said it owned roughly 40 million shares of the world’s largest packaged food maker in its funds and a special purpose vehicle raised for the opportunity.

Reporting by Maiya Keidan and Martinne Geller, editing by Louise Heavens

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