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Paulson Funds Rise During Difficult September
October 7, 2008
John Paulson continues to turn bad news for the markets into good news for his investors.
Amid what might have been the worst-ever month for the hedge fund industry, Paulson & Co.’s Advantage Plus Fund added another 4.3%, Bloomberg News reports. The fund, which returned better than 150% last year—one of several Paulson hedge funds to post triple-digit returns in 2007, helping its assets under management to balloon to $35 billion—is now up 24.6% on the year.
Another Paulson fund, the Advantage Fund, is also enjoying positive, if more modest, returns amid the market carnage. It rose 1.58% last month and is up 15% on the year.
Paulson has been betting against the banking sector, especially in the U.K.
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