Wednesday, 24 December 2014
Last updated 11 hours ago
Feb 5 2010 | 3:57pm ET
It seems everything that John Paulson touches does not turn to gold, even if it is gold.
Paulson & Co.’s new gold hedge fund had a rough first month, dropping 14% in January, Bloomberg News reports. Paulson launched the fund at the beginning of the year to take advantage of a long-term rally in gold that pushed the value of the precious metal up 24% last year.
Paulson himself invested $250 million in the gold fund, which invests both in gold mining and production and bullion-related derivatives. The fund features a hefty $10 million minimum investment, as well as a three-year lockup, so skittish investors will have to live with their buyer’s remorse for some time.
It is not clear how gold’s decline in January affected the $32 billion hedge fund’s other products. Paulson had moved some 10% of the firm’s assets into gold last year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.