Monday, 3 August 2015
Last updated 47 min ago
Feb 7 2011 | 10:09am ET
A couple of prominent hedge fund managers had a rough start to 2010.
John Paulson, whose belief in gold earned him $5 billion last year, took it on the chin last month as gold prices declined 6%. Paulson & Co.'s gold fund fell by twice as much, dropping 12%.
The $36 billion firm's other funds did better—with some posting very respectable returns in the first month of the year—unless your money is invested in its gold-denominated share classes. All of those took a beating last month, dropping between 0.25% and 5.2%.
But if you invest in Paulson's regular share classes, things were rosier. Its flagship Advantage fund rose 0.24% while its Advantage Plus fund added 0.4%. Both the firm's Enhanced and Credit funds returned 4.35% on the month, while its Partners fund was up 2.34% and its Recovery fund 0.89%.
Like his fellow bigger 2010 winner Paulson, William Ackman had a forgettable January. Pershing Square Capital Management's flagship fund, which rose nearly 30% last year, was down 2.6% last month.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…