Thursday, 18 December 2014
Last updated 16 hours ago
Mar 19 2009 | 2:46am ET
For hedge funds, 2009 is starting to feel more like 1849.
Another major hedge fund is joining the gold rush: Paulson & Co. has bought a $1.28 billion stake in South African gold mining company AngloGold Ashanti. The New York-based hedge fund is now the second-largest shareholder in AngloGold.
Paulson bought its stake from Anglo American, the British mining conglomerate.
“We believe AngloGold Ashanti is one of the best-managed and undervalued of the major gold-mining companies,” John Paulson said.
Paulson made its name in 2007, when it rode the collapse of the subprime mortgage market to triple-digit returns. The hedge fund is also a major shareholder of Kinross Gold Corp., the Canadian mining company. Nor is Paulson the only hedge fund betting on gold: Third Point and Greenlight Capital have recently moved large portions of their assets into the precious metal.
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.