BOSTON, April 7 Hedge fund manager John
Paulson's returns dipped in March, hurt in part by losses in the
gold market, two people familiar with the numbers told Reuters
The Paulson Advantage Plus Fund dipped 7.4 percent last
month, cutting its year-to-date gains to 2.6 percent. The
Paulson Enhanced Fund, meanwhile, dropped 6 percent for the
month, leaving it up 2.4 percent year-to-date.
The declines came as gold, a long-time favorite bet
at Paulson & Co, the $21 billion hedge fund firm run by the
billionaire investor, recoiled from a February rally.
Paulson shot to fame after earning billions of dollars
betting against the overheated subprime market in 2007 and
following that with another winning bet on gold in 2010. Those
winning bets brought legions of new investors to his funds. In
2011, however, Paulson's Advantage Plus fund fell on hard times,
losing roughly 52 percent.
The Paulson Credit Fund fell 2.5 percent in March while the
Paulson Recovery Fund dipped 0.5 percent, leaving both up 5
percent year-to-date, according to the sources.
(Reporting by Svea Herbst-Bayliss and Richard Valdmanis;
Editing by Leslie Adler)