Greenlight Funds Down In June; Gold Fund’s Losses Hit 20%

Jul 2 2013 | 2:28am ET

June proved a month to forget for Greenlight Capital.

The firm’s gold hedge fund plummeted 11.8% last month and is now down 20% on the year, Reuters reports. The gold fund had $929 million in assets under management at the end of March.

Greenlight also suffered losses in its $8 billion flagship, albeit much more modest ones. The fund dropped 1.1% last month, but is up 7.4% on the year.

And while it may be cold comfort for Greenlight and founder David Einhorn, things could be worse: Paulson & Co.’s Gold Fund was down 54% through May—before the June swoon in the metal’s price that so badly burned Greenlight.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of