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Alternative Market Briefing

Most of Paulson’s funds rise in November

Monday, December 09, 2013

Precy Dumlao, Opalesque Asia:

John Paulson’s main hedge fund, the $2.4bn Recovery Fund, which bets on the recovery in the U.S. economy is up 57.6% YTD after a 9.9% gain in November thanks to investments in financials, according to media reports.

Other Paulson fund also generated good returns last month, said The Journal. His $2.3bn Advantage Fund rose 7.8% betting on health care and defaulted securities; it is now up 22.7% YTD.

Another of Paulson’s fund, the $5.5bn Paulson Credit Opportunities Fund, took advantage of post re-organization equities and defaulted securities that contributed to 4% gains; it is up 21.3% YTD.

All three funds also made money from the initial public offering of hotel company Extended Stay America Inc.

However, Paulson International, a $6.4bn merger arbitrage funds produced less success but still ended the month on positive territory with 1.6%, and is up 14.1% YTD. A leveraged version of the same strategy, the Paulson Enhanced Fund gained 3.2%, and is up 29.9% for the year.

In another report, Bloomberg said that Paulson & Co., which gained popularity for making $15bn for investors betting against the subprime mortgages in 2007, saw a major rebound the past few months after losses tied t......................

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