Monday, 31 August 2015
Last updated 2 days 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…