Wednesday, 27 August 2014
Last updated 3 hours ago
Jun 7 2013 | 2:33pm ET
For the most part, Paulson & Co. is having a pretty good year. Its credit funds are up by double-digits and its recovery fund is up 27%; both have cleared their high-water marks.
But the New York-based firm fears—probably correctly—that it isn't getting the credit it deserves due to big losses suffered by its Gold Fund and its gold-denominated funds, which account for only 2% of its $18 billion in assets. So it's decided to stop circulating the figures so widely.
"At the request of clients and consultants, we will be reporting the performance of our Gold Funds separately to investors in those funds and interested parties," Paulson wrote to clients. The firm's gold investments "have received a disproportionate amount of attention over recent months"—as gold prices plummeted—"and have detracted attention from the performance and positive developments of our other funds."
Funds such as its $2 billion Recovery Fund, which rose 4.9% in May and is up 27% on the year. Its largest funds, its credit vehicles, added 3.6% on the month and 16.2% on the year. And its merger funds are up between 8.2% and 17.4% on the year.
Even its much-maligned flagship, Advantage, rose 2.4% in May and is up 4.4% in 2013. The more highly-levered Advantage Plus fund added 3.3% last month and is up 6.1% on the year.
Paulson has not reported the May returns for its $360 million gold funds, which are down 47% this year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...