Paulson Flagship Funds Continue to Lose Money in August
New data obtained by CNBC shows Paulson & Co.’s flagship Paulson Advantage and Advantage Plus funds continue to see losses.
The $17.1 billion funds are reportedly down between 10 and 11 percent since the start of August, according to a person briefed on the performance data.
They represent almost half of Paulson’s $38.1 billion under management. Of course, that still beats the S&P 500, which has dropped 13.37 percent so far this month.
Paulson & Co. issued a clarification memorandum to investors last Friday, according to a person familiar with the matter, stating “redemptions thus far have been less than the quarterly average for the past two years.” In other words, people aren’t running for the exits yet.
A spokesman for Paulson & Co. declined to comment on the funds’ performance. » Read More