Tuesday, 5 May 2015
Last updated 9 hours ago
Apr 7 2011 | 11:45am ET
Has John Paulson lost his Midas touch?
The billionaire hedge fund manager’s biggest portfolios have lost ground in the first quarter, reports Reuters, citing two people familiar with the performance.
The Advantage Fund, which accounts for the bulk of Paulson & Co’s assets, lost 1.24% in the first three months of 2011, thanks to a 3.10% loss in March, reports the news agency.
His Advantage Plus Fund lost 1.74% during the same period after a 4.4% drop in March. The fund took a real hit in early March—off 6.14% through March 15—thanks to fallout from Japan’s disaster and bets on U.S. banks and the housing market.
Paulson’s Gold fund was off 0.87% for the quarter (0.43% for March).
The same sources also said some of Paulson’s other funds had posted gains: the arbitrage-oriented Paulson Partners gained 3.86% in Q1 2011, the Paulson Enhanced gained 6.94%, his Recovery fund is up 3.8%, and the Credit Opportunities Fund rose 6.44%.
With $36 billion in AUM, Paulson & Co is one of the world’s largest hedge funds.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…