After pulling itself into positive territory in July, the flagship fund at Barry Rosenstein and Gary Claar’s $2.2 billion JANA Partners is back in the red after a negative August.
JANA Partners dropped 3% in August, bringing it down 7 basis points this year. The fund has produced a net annualized return of 13.8% since its inception in April 2001.
One of the firm’s successful deals this July was its investment in Charles River Laboratories International, a preclinical drug research company. On June 7, JANA bought 4.7 million shares, or 7% of the company. They then spoke out against Charles River’s proposed $1.6 billion bid to purchase WuXi PharmaTech, a Chinese drug research and development outsourcing company. In July, Charles River terminated the deal, and its stock jumped from $32.44 on June 7 to $36.85 on June 20. JANA declined to comment.
—Suzy Kenly