Tue, Feb 21, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

John Paulson’s gold fund’s losses widen, down 23% in June (-65% YTD)

Tuesday, July 09, 2013

Komfie Manalo, Opalesque Asia:

Hedge fund manager John Paulson is under extreme pressure after his gold fund plunged 65% so far this year (-23% in June), after the yellow metal fell 12% that month on concerns that the Federal Reserve might scale back on its quantitative easing program, various media reported.

According to a report by the Reuters, it was unclear if the June sell off in gold was the primary reason for the 23% decline in Paulson’s PFR Gold Fund or if his bets on borrowings and derivatives also contributed.

Paulson’s gold fund manages an estimated $300m, roughly 2% of his total assets, using mostly his personal money. The gold fund is also Paulson’s smallest portfolio. At one point it managed almost $1bn, rose 35% in 2010 and was part of Paulson’s estimated $5bn income that year, says Reuters.

The report quotes John Brynjolfsson, managing director of global macro hedge fund Armored Wolf as saying, "Paulson’s impact on the gold market is dramatic. In particular his size alone, on the way in or way out. But one needs to look beyond his size alone because his positions are relatively widely publicised, and representative of how others are thinking, so thereby their impact get......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. With $54bn in assets, Philippines is ready for hedge funds, alternative investment products[more]

    Komfie Manalo, Opalesque Asia: With the country's outstanding fund management industry at $54bn and growing, the Philippine market and its investors are ready to invest in "more sophisticated" asset management products, like hedge funds and alternative investments, said Deanno J. Basas, presi

  2. SoftBank to buy Fortress Investment for $3.3bn[more]

    From Reuters.com: Japan's SoftBank Group Corp on Wednesday said it has agreed to buy Fortress Investment Group LLC for about $3.3 billion, looking to add investment expertise as it prepares to launch the world's largest private equity fund. The all-cash deal is SoftBank's first major investmen

  3. ...And Finally - Truth in advertising[more]

    From Newsoftheweird.com: Girl Scout Charlotte McCourt, 11, of South Orange, New Jersey, saw her sales zoom recently when she posted "brutally honest" reviews of the Scouts' cookies she was selling -- giving none of them a "10" and labeling some with dour descriptions. She was hoping to sell

  4. Europe - Brexit - Updated legal guide, Euro exchange rates set to tumble as hedge fund's super computer predicts Marine Le Pen will be next French president, Swiss fund market hits all-time high[more]

    Brexit - Updated legal guide From Herbertsmithfreehills.com: When we began analysing in depth the possibility of Britain exiting the EU (Brexit), 18 months prior to the June 2016 referendum, the business consensus was very much that Brexit was a remote prospect that either would never hap

  5. People - Gramercy appoints Bradshaw McKee as managing director of Capital Solutions, Trump taps Cerberus's Feinberg to lead intelligence review[more]

    Gramercy appoints Bradshaw McKee as managing director of Capital Solutions Gramercy Funds Management LLC, a $5.8 billion dedicated emerging markets investment manager, today announced the appointment of Bradshaw McKee to the position of Managing Director, Capital Solutions and Distressed