Paulson Down 34% Amidst Market Volatility

Aug 18 2011 | 2:34am ET

August cannot end soon enough for Paulson & Co. The New York-based hedge fund giant lost even more ground last week, leaving its largest fund, Advantage Plus, down 34% year-to-date.

That fund had been down 22% through July, but lost another 11% in the first week of August alone. After the month’s first week, Advantage Plus was down 31%.

Paulson’s flagship Advantage Fund also suffered a difficult second week of the month. That vehicle, which was down 21.5% after August’s first week, was down 23.5% as of the end of last week, CNBC reports.

According to CNBC, the $35 billion firm’s other funds aren’t doing nearly as bad: Paulson Partners has lost 3% through Friday and Paulson Enhanced 7%. Furthermore, the gold-denominated versions of Paulson’s funds are strongly outperforming the dollar-denominated funds.

Paulson this week reported that it had sold two of its worst-performing investments, Bank of America and Citigroup.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of