Thursday, 30 July 2015
Last updated 6 hours ago
Oct 3 2011 | 1:31pm ET
Last year, Paulson & Co.'s remarkable turnaround started in September. The New York hedge fund wasn't so lucky this year.
Paulson's flagship Advantage Fund, which bounced back from a miserable start to August to cut its losses for that month, couldn't carry the momentum into last month, losing another 6% through Sept. 27. The fund is now down 28% this year, Bloomberg News reports, with just three months to go in 2011.
To erase that, the $9 billion fund would need a turnaround about three times more impressive than last year's: Advantage needs to rise about 39% in the fourth quarter to break even on the year.
Paulson's Advantage Plus Fund, a more highly-levered version of Advantage, was down 11% through August last year. But it soared 12.5% in September and continued on that roll through the final three months of the year, ending 2010 up 17%.
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…