Friday, 4 September 2015
Last updated 8 min ago
Jul 10 2007 | 11:30am ET
Where there are big losers, there are always big winners, and in the sub-prime mortgage market, Paulson & Co. continues to hit the jackpot.
The New York-based hedge fund, which last year set up its Paulson Credit Opportunities Fund specifically to take advantage of the storm ravaging mortgage markets, is up an eye-popping 129.22% in the first half of 2007, MarketWatch reports. The fund rose an astonishing 39.95% in June on bets against the sub-prime market, as that very same market sunk a number of hedge funds, most notably one managed by Bear Stearns.
It’s been a top-notch year all-around for Paulson. While nothing can quite compare with the killing it is making in the sub-prime market, both its flagship fund and its event-driven offering are up more than 25% this year. The event-driven fund rose 10.16% last month—a bad one for many event-driven managers—and is up 29.29% in 2007, while its flagship, a merger-arbitrage fund, is up 27.72% in the first half after returning 6.15% in June.
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…