Saturday, 22 October 2016
Last updated 10 hours ago
Mar 7 2013 | 12:24am ET
Paulson & Co.'s 2013 revival was short-lived.
The New York-based firm's flagship hedge funds swung into the red last month, with February's losses swamping January's gains. Paulson's Advantage Plus Fund fell 3.4% last month and the more highly-levered Advantage Plus Fund 4.7%, Bloomberg News reports. The former is now down 2.5% through the first two months of the year and the latter 3.5%.
Paulson's Gold Fund, which focuses on gold-mining stocks, is doing even worse, down 26% in 2013 after an 18% February swoon.
Paulson's other funds posted gains in February. Its Recovery Fund rose 1.6% last month and is up 5.8% on the year, its Credit Fund added 1.3% in February and is up 4.3% on the year, and its International Fund rose 0.5% last month and is up 7.2% on the year.