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Alternative Market Briefing

John Paulson’s hedge funds continue downward slide in September

Thursday, October 15, 2015

Komfie Manalo, Opalesque Asia:

John Paulson’s $19 billion hedge fund firm saw several of its funds losing money last month, reported Chicago Tribune.

Paulson Partners, the firm’s main merger fund and largest strategy, fell 6% in September, bringing its YTD gain to just 0.6%. Paulson's Advantage fund, which makes bets on companies undergoing events, fell 8.5% in September, leading to YTD losses of 12%.

Paulson Partners had gained 9% YTD through July, says the paper, helping the firm, Paulson & Co, to recover from its second-worst year ever in 2014.

Four of Paulson’s largest positions at the end of the second quarter were in healthcare companies, including Allergan Plc, Valeant Pharmaceuticals International Inc., Shire Plc and Mylan NV, which all dropped more than 10% in September, while the S&P 500 Health Care Sector Index fell 5.8%.

Paulson Partners also declined 4.2% in August following the global market sell-off. The Paulson Advantage Fund, once a favorite amongst wealthy individual investors, also fell 4.9% during the month.

The brutal months of August and September have le......................

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