Monday, 29 December 2014
Last updated 1 min ago
Oct 27 2011 | 6:46am ET
Paulson & Co. can't win for losing this year.
The New York-based hedge fund, burned badly by falling stocks all year, finally began cutting its exposure to equities—just in time to see the stock market rally this month, The Wall Street Journal reports. Paulson's decision to reduce risk in its funds means that the firm's largest fund, Paulson Advantage, which lost almost 47% during the first nine months of the year, is up less than 1% this month—while the Standard & Poor's 500 Index is up almost 10%.
The news couldn't come at a worst time for the $30 billion firm: Investors have until the end of the month to file redemption requests from its flagship Advantage and Advantage Plus funds, which are down between 30% and 47% this year after a brutal September.
Paulson has enjoyed an enviable track-record of double-digit returns over the past four years. But the firm will have to almost double investors' remaining money in November and December to simply break-even this year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.