Paulson Funds Up Between 14% And 45%

Nov 25 2013 | 12:03pm ET

It isn't exactly 2007, but after the past two years, John Paulson will take it.

Paulson's hedge funds—with one notable exception—have been standouts this year, returning between 14% and 45%, The Wall Street Journal reports. That makes Paulson & Co. among the rare hedge funds to compete with—or beat—the Standard & Poor's 500 Index's 23% return this year.

Paulson told investors at his annual presentation last week that his Recovery Fund is the firm's top performer, up 45% through the end of last month. His merger fund is on the other end, up 14%, though a levered version of that vehicle is up 28%. Only his Gold Fund is in the red this year, and while it is deep in the red, with a 63% loss, it is composed primarily of Paulson's own capital. All told, the firm has about $19 billion in assets under management.

Looking forward, Paulson said that he expects an increase in merger activity next year, particularly in oil, telecommunications and healthcare.

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