Paulson Flagships Sink In Feb.

Mar 7 2012 | 2:15pm ET

Paulson & Co. is a little bit farther from making up the huge losses it suffered last year after a disappointing February.

The firm's flagship Advantage Fund lost 0.8% on the month, missing out on February's market rally, which pushed the Standard & Poor's 500 Index up 4.1% on the month. Paulson reduced its market exposure during last year's catastrophic losses, which were as high as 50% for its Advantage Plus Fund.

That fund lost 1.5% last month. Both funds remain in positive territory for the year, up between 3% and 3.5%.

Other Paulson funds did a good deal better, including Paulson Partners Enhanced, which added 6.5% in February. The fund is now up 11% on the year.

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