Paulson & Co Hedge Funds
Paulson & Co Hedge Funds Made Gains in October 2010
Paulson Advantage Plus, one of the firm's largest funds, returned 2.55% last month, leaving it up 2.55% so far this year.
Paulson Advantage, which uses the same strategy without a small layer of leverage, climbed 1.72% in October, leaving it up 1.4% so far in 2010. Paulson Recovery rose about 0.5% last month, leaving it up roughly 8% so far this year.
Returns of this fund may have been restrained by a decline in shares of Bank of America (BAC), which is a big Paulson holding. Other Paulson & Co. hedge funds performed better.
Paulson Partners Enhanced, a pure merger arbitrage fund that uses a bit of leverage, returned 7.36% in October, leaving it up 16% so far in 2010. Paulson Credit Opportunities gained about 3% and is now up 12.4% this year.
Paulson's Gold hedge fund returned 3.57% in October, leaving it up 26% so far in 2010. Gold share classes of Paulson's hedge funds had bigger gains in October. Source