Thursday, 24 July 2014
Last updated 5 hours ago
Nov 30 2009 | 12:24pm ET
Paolo Pellegrini can’t begin soliciting money from his former investors at Paulson & Co. until January. And when he does, he’ll have quite a story to tell.
Pellegrini’s new hedge fund, PSQR Management, is up 175.5% since it began trading in April 2008, according to the firm’s first quarterly report. The fund is up 80.84% this year following a 0.31% drop in September, and rose 52.36% in 2008.
PSQR—a play on P-squared for Pellegrini’s initials—has had six down months in its first 18, including two this year. The fund made most of its money this year in January, soaring 66.94%. The only other month in 2009 that it was up or down more than 1% was February, when it rose 5.81%. The fund’s big returns in December—it rose 23.84%--January and February stemmed from its bearishness on long-date U.S. Treasuries, the firm said in the report.
Pellegrini, one of the architects of Paulson & Co.’s hugely profitable bet against subprime mortgages, left the New York-based hedge fund at the end of last year.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…