- Investment company Pershing Square posted a positive first-half performance that nevertheless missed the US equities benchmark.

The company's net asset value total return per share for the six months through June was 7.3%.

That compared to a 15.2% rise on the S&P 500 index over the same time period.

Pershing Square is an investment holding company structured as a closed-ended fund that invests in publicly traded, principally North American-domiciled, companies.

The first half of 2021 continued to be a challenging time for the world as economies, companies, and individuals have had to adapt to the changes imposed on us by the global pandemic,' chairman Anne Farlow said.

'I am pleased to report that during this time, PSH's portfolio companies made substantial progress, and we expect this positive performance to continue as economies recover, vaccines are more widely distributed, and we learn to live with the risk of Covid-19.'

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