Most Paulson Funds Rise In May

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.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...