Paulson Gold Down Another 23% In June, Off 65% YTD

Jul 8 2013 | 10:42am ET

Paulson & Co.'s gold fund continued its freefall in June, dropping a further 23% to end the first half of the year down 65%.

The newly-rechristened PFR Gold Fund, which manages primarily firm founder John Paulson's own capital, had been down 54% through May. The fund lost 25% last year.

Despite the huge decline, Paulson insisted that the fund could post a dramatic turnaround.

"Although the timing is uncertain, if you have a long-term view we believe the funds offer the potential for outsized returns," the firm said in a July 3 letter to investors, obtained by Bloomberg News.

The Gold Fund is Paulson's smallest, and it is also the only one of the firm's funds in the red this year. New York-based Paulson said last month that it would restrict the distribution of the fund's performance figures, reporting them separately from its other funds, in an effort to focus attention on the latter funds' better performance.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of