Paulson Funds Up (Less) In November

Dec 6 2007 | 8:17am ET

New York-based Paulson & Co.’s hedge funds, up triple digits this year, experienced lower returns in November, as many hedge funds tanked.

The $28 billion hedge fund manager’s Credit Opportunities I fund is up almost sixfold year-to-date, and its Credit Opportunities II fund more than threefold, on bets against subprime mortgages. The firm has been cutting back on its mortgage investments recently. The decline in returns may be a result of the cutbacks.

Credit Opportunities I rose 5.78% last month, MarketWatch reports, and is up 587.5% through the first 11 months of the year. Credit Opportunities II rose 4.86%, and is up about 350%.

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