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Paulson’s Advantage Plus Up 5% in January as All Funds Rise

John Paulson, the billionaire money manager who had his worst year on record in 2011, posted a 5 percent gain in January in one of his largest hedge funds as all strategies rose, according to a person briefed on the returns.

Paulson & Co., which is based in New York and manages about $24 billion, lost money in what he called an “aberrational year” on investments including Citigroup Inc., Bank of America Corp. and Sino-Forest Corp., the Chinese forestry company accused by short-seller Carson Block of overstating timberland holdings. Paulson’s Advantage Plus Fund had a 51 percent loss in 2011.