Business

Paulson loses more in September, fund now off 47 percent

Font Size:

BOSTON (Reuters) – Hedge fund manager John Paulson lost more money in September thanks to ill-timed bets on an elusive economic recovery that left one of his biggest funds off 47 percent, two people who saw the numbers said on Saturday.

Paulson & Co, one of the world’s five biggest hedge funds, released the numbers to investors late on Friday just hours before many on Wall Street headed off for a holiday weekend.

The Advantage Plus fund, which uses some borrowed money to help boost returns, tumbled 19.35 percent last month, leaving it off 46.73 percent for the year, the firm told clients.

Full story: Paulson loses more in September, fund now off 47 percent | Reuters.

Tags : hedge fund
Kells Hetherington