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The Advantage fund, which bets on corporate events such as spinoffs and takeovers, fell A spokesman for the firm declined to comment. October proved to be a tough month for Paulson and other managers when a proposed merger between Shire Plc, which sells attention deficit hyperactivity drug Adderall XR, and AbbVie was scuttled, sending Shire's shares diving some 20 percent.
Similarly, he lost when a U. The Advantage Funds, including the Advantage Plus fund, had a rocky and but roared back last year with double digit gains that handily beat the average hedge fund's gain. The Advantage funds now make up only about 15 percent of the firm's capital after many outside investors left. Roughly half of the firm's money is invested in its merger arbitrage funds, including Paulson Partners, which fell 4.
The average hedge fund was flat last month when the market rebounded after a sharp selloff and is now up 3 percent for the year, according to data from Hedge Fund Research. Funds that sell stocks short and had been slated to perform well, ended up losing 1.
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Credit Cards. Paulson Advantage fund down 24 pct for year after tough October. Mon, Nov 10, , PM.