Paulson Gold Fund Said to Extend Slump With 13% May Loss

John Paulson, the billionaire hedge- fund manager seeking to reverse record losses in 2011, posted a 13 percent decline last month in his Gold Fund as bullion and mining stocks fell, said a person briefed on the returns.

The loss leaves the fund, which can buy derivatives and other gold-related investments, down 23 percent this year.

Armel Leslie, a spokesman for New York-based Paulson & Co., which manages about $24 billion, declined to comment on the returns, some of which were reported earlier today by Business Insider.

To contact the reporter on this story: Kelly Bit in New York at

To contact the editor responsible for this story: Christian Baumgaertel at

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