Sunday, 23 October 2016
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Jan 3 2011 | 4:25am ET
As recently as four months ago, 2010 appeared to be something of a lost year for Paulson & Co. The firm’s flagship was down 11%—other funds managed by the firm were also in the red—and the New York-based hedge fund giant looked poised to suffer its first annual loss since it burst onto the scene with a triple-digit return three years ago.
But Paulson’s Advantage Fund posted a huge rally in the first half of December and was up 14% on Dec. 10, The New York Times reports. The strong December follows a 12.5% jump in September, which put the fund into the black. Through November, the fund was up 3.7%.
“Several of his general investment themes this year came to fruition,” an investor told the Times.
Paulson’s Advantage Plus fund was up 10% during the first 10 days of December, as was its Recovery Fund, which was up 19% on the year. Its Credit Opportunities Fund added 4% in the first third of the month and was up 17% with 21 days to go in 2010.