Paulson suffers $2 billion slump in assets
July 08, 2010
Britt Erica Tunick
Redemptions and losses, though offset by a rise in its gold investments, contributed to the drop.
Paulson & Co. was hit with roughly $2 billion in redemptions at the end of June, an amount some investors found surprisingly low given its recent losses and lingering uncertainty about whether the firm might become embroiled in the Securities and Exchange Commission's charges against Goldman Sachs for the structuring of a failed mortgage product.
As of July 1, Paulson & Co.’s assets under management had fallen to $30.9 billion, down...
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