Investors pulled $2.2 billion from Paulson in 2010
By Britt Erica Tunick
Fri Jan 28, 2011
The redemptions have affected marketing plans for the Advantage fund.
Despite generating profits of more than $8.6 billion in 2010, John Paulson’s Paulson & Co. was hit with redemptions of at least $2.2 billion at the end of last year, leaving the Paulson Advantage Fund open new capital.As of January 1, Paulson managed $36 billion, according to a letter to investors sent this week. That’s up $4 billion from the $32 billion in assets the firm had at the start of 2010, despite generating profits of $8.6 billion, including fees, in 2010. Investors said the redemptions are indicative of the fact that a growing number of Paulson’s investors have become uncomfortable enough...
TAKE A FREE TRIAL
The full contents of this article are available to Absolute Return subscribers and trialists only.
To continue reading please, take a free trial, subscribe or log in.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.