Paulson Funds On Comeback Trail?

Oct 5 2012 | 1:52pm ET

He's got a ways to go, but John Paulson may yet salvage 2012 in its final quarter.

All of Paulson & Co.'s hedge funds either gained ground in September or lost ground on the month but remain in the black for the year. And while its flagships remain down by double-digits, performances like September's give them an outside chance of avoiding their second-straight losing year.

The Advantage Fund advanced 2.6% last month to cut its year-to-date loss to 11%, while the more highly-levered Advantage Plus Fund added 3.6% to cut its loss to 14%. Those funds were down 13% and 18%, respectively, earlier this year, after losing 36% and 51% in 2011. And its Gold Fund—down more than 20% earlier this year—is now down just 3.9%, thanks to a 13% September return.

Paulson's other funds' dollar-share classes were either down or flat in September. But all are up for the year: Enhanced was flat last month and is up 9.1% on the year, Recovery lost 1.2% but remains up 0.5% on the year, and Credit Opportunities lost 1.5% in September but remains up 2% in 2012.

Of course, if you're invested in Paulson's gold-denominated share classes, you're in even better shape. Enhanced's gold class rose 3.7% last month (16% year-to-date), Recovery 2.8% (10% YTD), Credit Opportunities 1.9% (10% YTD), Advantage 6.8% (down 0.8% YTD) and Advantage Plus 6.8% (down 5.2% YTD).


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Editor's Note