Tuesday, 22 July 2014
Last updated 10 hours ago
Sep 1 2011 | 8:25pm ET
Having consistently pummeled Paulson & Co. over its first three weeks, August took last week off.
The $35 billion firm actually posted gains last week. New York-based Paulson didn't do quite as well as the broader markets, but those five days were a much-needed respite for the firm, whose largest fund was down almost 22% on the month and 39% on the year before last week.
That fund, Advantage Plus, rose 3.5% last week, paring the aforementioned losses to 19% on the month and 36.5% on the year. The firm's flagship Advantage fund advanced 2.3% last week to cut its monthly loss to 12.8% and its year-to-date loss to 25.8%, The New York Times reports.
The Standard & Poor's 500 Index rose 4.7% last week.
Whether last week's gains are the beginning of an impressive turnaround remains to be seen. Last year, Paulson's funds were down by double-digits as late as September before rallying to end 2010 up 11%. But none of the funds were down by this much at any point last 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…