Sunday, 21 December 2014
Last updated 4 hours ago
Nov 18 2009 | 1:17pm ET
Paulson & Co. poured billions into gold-related investments this year. Next year, he’s taking his newfound love of the precious metal to a whole new level.
The New York-based hedge fund will launch a dedicated gold hedge fund on Jan. 1. Firm founder John Paulson announced the new fund at a meeting with investors yesterday.
Paulson told investors that the gold rally was only just beginning, and pledged to invest $250 million of his own fortune in the new vehicle, The Wall Street Journal reports.
The Paulson gold fund will invest in gold-mining companies and other gold-related equities, as well as gold derivatives. The fund will seek to outperform gold prices.
Earlier this year, Paulson moved about 10% of his firm’s $30 billion into gold and gold-related investments.
Paulson's gold-only fund follows a similar announcement from Stanley Fink's International Standard Asset Management last month.
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.