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Fake Trees Hurt Paulson And Co's Flagship Fund In June

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Bloomberg reports the Advantage Plus Fund, Paulson's flagship, lost 11 percent in June thanks to Sino-Forrest.

The drop left Paulson’s Advantage Plus Fund, which uses strategies designed to profit from corporate events such as takeovers and bankruptcies, down 18 percent this year, said the client, who asked not to be named because the information is private...Paulson’s dollar-denominated Advantage Fund, which employs
a similar strategy to Advantage Plus, dropped 7.3 percent last month and 12 percent this year...The firm’s Gold Fund, which can buy derivatives and other gold-related investments, fell 8.6 percent in June, leaving it down 7.9 percent for the year. The Paulson Partners Enhanced Fund, which invests in the shares of merging companies, decreased 4.7 percent last month and gained 6.1 percent in 2011. The gold share class declined
5.8 percent in June and advanced 8.9 percent this year.

Paulson’s Credit Opportunities Fund declined 2.7 percent last month and climbed 5 percent in 2011. Its gold shares lost 3.9 percent in June and gained 7.9 percent this year.

Paulson’s Main Fund Said to Lose 11% in June on Sino-Forest Sale [Bloomberg]