Hedge-fund titan John Paulson, who recently admitted to a series of investment mistakes, recorded a 3.3% drop in the Paulson Advantage fund, bringing year-to-date losses to 15%, a person familiar with the situation said Thursday.
The fund's July performance trailed the HFRX Equity Hedge Index's loss of 0.84%, and the 2% decline in the Standard & Poor's 500 index.
The fund's performance was earlier reported by Bloomberg.
Paulson Advantage Plus, the leveraged version of the Paulson Advantage fund, lost 4.6% in July and was down 22% this year through July, the person said.
Performance was much better if investors with Paulson & Co. invested in the gold share class of the Paulson Advantage fund. July performance was up 5.1%, and the year-to-date loss was less at 2.1%, he said.
And Paulson's dedicated gold fund gained 11% in July and was up 2.5% for the year, he said.
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