Paulson Advantage Plus Hedge Fund Declines 2% Last Month
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John Paulson, the billionaire hedge-fund manager coming off record losses in 2011, posted a 2 percent loss last month in his Advantage Plus Fund, according to a monthly update to investors obtained by Bloomberg News.
The fund, which seeks to profit from corporate events such as takeovers and bankruptcies and uses leverage to amplify returns, is down 18 percent this year with the July loss. Paulson’s Gold Fund, which can buy derivatives and other gold-related investments, rose 0.2 percent in July and has declined 23 percent this year. Slumping gold-mining stocks have contributed to declines in the Advantage funds and Gold Fund this year.