Sunday, 28 August 2016
Last updated 1 day ago
Nov 4 2010 | 8:33am ET
A year that started off very badly for Paulson & Co. is ending very, very well.
The New York-based hedge fund, which last month emerged from the red with a 12.5% return for its flagship, extended those gains in October. The firm’s Advantage Plus Fund rose 2.6% last month and is now up 2.5% on the year.
That return is hardly impressive on its face, until one considers that the $9 billion fund was down 11% through August.
Paulson, which manages $32 billion, can now boast that all of its funds are in the black. Its Advantage Fund is up 1.4% after rising 1.7% last month and its Recovery Fund is up 7.8% on the year after a 0.5% October return.
All of the firm’s other funds are up by double-digits this year, well ahead of industry indices. Its Credit Opportunities Fund is up 12.4% after adding 2.7% last month. A whopping 7.3% October return has its Partners Enhanced Fund up 16% in 2010, while its gold fund is up an impressive 26% this year after a 3.5% jump last month.