Wednesday, 5 August 2015
Last updated 14 hours ago
Jun 6 2014 | 10:08am ET
May proved a highly mixed bag for Paulson & Co.
Most of the $21 billion New York-based firm’s funds posted gains last month, with its merger-arbitrage Partners Enhanced Fund returning 1.9% and its Credit Opportunities Fund 1%. The latter is now up 7.4% on the year and the former 4.8%.
But Paulson’s Advantage Plus Fund fell 3.7% to wipe out its year-to-date gains; it is now down 2% in 2013. A less-levered version of that event-driven strategy, Advantage, dipped 2.3% in May to extend its year-to-date drop to 3.4%, Bloomberg News reports. Some of those losses are attributed to gold and gold-related investments, a fact that does not bode well for Paulson’s gold fund, which reports its returns separately from the firm’s other funds.
Paulson Partners, the unlevered version of Partners Enhanced, rose 0.9% last month and is up 3.3% on the year. Paulson’s Recovery Fund returned 1.8% in May and is up 2.8% on the year.
According to Bloomberg, Paulson made money on banking, hotel, telecommunications and energy investments last month.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…