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 kbit@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.