Friday, 22 August 2014
Last updated 3 hours ago
Apr 5 2013 | 12:02pm ET
Paulson & Co. enjoyed gains by all but one of its hedge funds in the first quarter after a March surge erased February's losses.
The New York-based firm's flagship Advantage Fund jumped 5.6% last month and is up 2.9% on the year. The more highly-levered Advantage Plus Fund rose 7.6% in March and is up 3.6% on the year. Paulson credited the funds' "financials, consumer cyclical and noncyclical event-driven positions."
Cheering though those figures are after two straight years of double-digit losses, the performance of Paulson's Recovery and Credit funds are even more so. The former added 14.2% in the first quarter, and the latter 10.4%.
But Paulson's Gold Fund continued to disappoint in a big way, losing another 3.1% in March to end the first quarter down 27.9%. The firm explained that the fund "experienced declines as implied volatility in the gold derivatives market continued its decline."
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note