March didn’t turn out as well as everyone had hoped but, on the bright side, it could’ve been so much worse.
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 on Monday. 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.