Bill Ackman’s gains wiped out by China turmoil by Jonathan Chew @FortuneMagazine August 28, 2015, 5:21 PM EDT E-mail Tweet Facebook Linkedin Share icons The recent stock market fluctuations have spared nobody, including Bill Ackman, the hedge fund star and founder of the firm Pershing Square Capital Management. In a letter obtained by CNBC, Ackman explained that the 10% gains he had made from investments over the year had been wiped out by the response of markets to the uncertainty surrounding the Chinese economy. “At the date of this report, the year to date investment performance has been erased, and the company is at a loss position for the year,” Pershing Square reportedly wrote. Among investments that Pershing lost on big-time, CNBC noted, included Mondelez International, which has fallen almost 9% since Ackman took a $5.5 billion stake early this month. Valeant Pharmaceuticals and Canadian Pacific Railway, other Ackman investments, lost around 11 and 14% respectively. Ackman made a name for himself last year after he was listed as one of the world’s top 20 hedge fund managers for the first time by LCH Investments. At 48, he was the youngest manager on the list. Pershing delivered $4.5 billion in net gains for investors last year, backed by pay-offs in Botox maker Allegan.