Paulson Funds Rise On Gold Investments

Feb 20 2014 | 12:19pm ET

Gold was anything but a bright spot for Paulson & Co. last year, as the precious metal's worst year in more than 30 saddled the New York-based hedge fund with huge losses.

This year is proving a different story.

Gold prices have rebounded in 2014, sending Paulson's $400 million PFR Gold Fund up 18% last month. The gold-only vehicle lost big last year, dropping 62% in the first three quarters.

Gold's improved performance has also fueled Paulson's Advantage and Advantage Plus funds, which also boast gold-related investments. The former is up 2.2% and the latter 2.8%. Those funds posted double-digit returns last year in spite of their gold holdings.

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