John Paulson is officially last year’s biggest loser.
The New York Post reports that Paulson’s hedge fund firm fell six places to 14th in Absolute Return’s Billion Dollar Club semi-annual ranking of the top hedge funds. The list includes funds in the US, Canada and Brazil.
As of January 1st, New York City-based Paulson & Co. had $17.66bn under management - less than half the $36bn it ran at its peak two years ago, when it ranked third.
The firm shed $4.8bn last year, the greatest amount of any of the 269 funds surveyed. The loss came largely from redemptions, as the funds gained an average of 1%, according to an investor letter.
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