Wednesday, 23 July 2014
Last updated 8 hours ago
May 2 2011 | 1:38pm ET
Mirroring last year, Paulson & Co. is digging itself a hole in the early going of 2011.
The firm's flagship Advantage Fund lost 0.32% through April 22, according to Lyxor's hedge fund platform, which includes the Paulson fund. The fund is down 3.57% for the year through that date, Reuters reports.
Advantage's problems are likely banking-related: Two of its top five holdings are Citigroup and Bank of America, down 7% and 12%, respectively, this year.
Last year, Paulson's funds were down by double-digits as late as September. But Advantage soared 12.5% that month and 14% in December to ensure a 17% return for the year.
The news is not all bad for Paulson: The New York-based firm's International Fund, also on the Lyxor platform, rose 1.5% through April 22 and is up 3.3% on the year.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…