Sunday, 21 December 2014
Last updated 6 hours ago
Mar 7 2014 | 3:12am ET
Gold burned Paulson & Co. in 2013, but is fueling the $21 billion hedge fund in 2014.
Rising gold prices, combined with successful merger arbitrage and fixed-income bets, have kept the New York-based firm’s main hedge funds hot. Paulson’s Advantage Plus Fund, which returned about 30% last year, is already in double-digits for this year, rising 9.8% in February and 13% over 2014’s first two months, Bloomberg News reports. The less-levered Advantage Fund returned 6.6% last month and is up 8.4% this year.
Paulson’s levered merger-arbitrage fund, Partners Enhanced, extended its January gains with a 7.4% return in February, leaving it up 8.8% on the year. The unlevered version of the strategy rose 3.7% in February and 5.3% on the year.
The firm’s $5.7 billion Credit Opportunities Fund added 4.8% last month and is up 8.8% this year, while its Recovery Fund—last year’s best performer—is up 5.9% in 2014 after a 5.6% return in February.
Even Paulson’s PFR Gold Fund, which is dedicated the investing in the precious metal, is soaring. The $327 million fund, which lost 71% last year as gold prices plummeted, is up 40% this year after an 18% jump last month. The vehicle needs an 81% return to recoup its losses over the past three years.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.