Paulson Positive In December

Jan 8 2013 | 1:36pm ET

Last year was another bad one for Paulson & Co.—but it wasn't as bad as it could have been.

The embattled New York hedge fund saw its Advantage Plus Fund rally in December, with a 4.5% return. That cut its loss to 19% for the year, Bloomberg News reports.

Last month's gain for Advantage Plus also indicates that the firm's flagship Advantage Fund, a less-levered version of the same strategy, will have pared its loss in December, although likely by less than Advantage Plus. Advantage was down more than 17% through November.

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