Paulson & Co’s flagship Advantage Plus Fund posts 21.6% loss
|August 8th, 2011||
|John Paulson’s hedge fund manager Paulson & Co.’s flagship Advantage Plus fund has been one of the most publicly scrutinized hedge funds in the industry in the past few months, and has continued its poor performance with a 4.6% loss in the month of July. According to the Financial Time, the Advantage Plus hedge fund is down 21.6% through July, while the Paulson Advantage fund is down 15% through the same period. |
The two hedge funds follow a similar strategy, though the Paulson Advantage Plus fund incorporates leverage. Although Paulson & Co.’s Merger Arbitrage Fund and Gold Fund are up 2.4% and 14.7% respectively, the high-profile losses in the flagship fund have been big blows to John Paulson’s reputation. Paulson’s bets on Sino-Forest, the Chinese logging company, and American financial institutions such as Bank of America and Citigroup, have all gone south, contributing to the fund’s massive losses.
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