Fri, Nov 27, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

John Paulsonís gold fundís 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 Paulsonís PFR Gold Fund or if his bets on borrowings and derivatives also contributed.

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

The report quotes John Brynjolfsson, managing director of global macro hedge fund Armored Wolf as saying, "Paulsonís 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. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? Thatís a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solusí chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqinís November