Friday, 26 December 2014
Last updated 2 days 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.
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.