Komfie Manalo, Opalesque Asia: John Paulson’s flagship hedge fund, Paulson Partners declined 4.2 percent during last month but remains in the black with 6.52 percent gains year-to-date, reported Reuters.
The loss in Paulson’s biggest hedge fund portfolios came following the global market sell-off in August as several of his stock picks were pushed lower, a source who saw the numbers told the news agency.
Another Paulson hedge fund, the Paulson Advantage Fund, also fell 4.9% during the month, leaving the fund with a year-to-date losses of 3.6 percent. The Paulson Advantage Fund was once a favorite amongst wealthy individual investors.
However, Paulson’s Special Situations fund reported the highest loss and was down 8.35 percent in August (-11.6 percent for the year).
Paulson's hedge fund buys Starwood Hotels stake
During the second quarter of this year, Paulson's hedge funds have acquired a 7% stake in Starwood Hotels & Resorts Worldwide Inc., becoming the biggest shareholder in the company as it explores strategic alternatives.
Paulson & Co., the New York-based money-management firm run by the billionaire, held about 12 million Starwood shares as of June 30, valued at $973 million, according to a F...................... To view our full article Click here
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