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.

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