Most US hedge funds lost out in Oct
Agencies: New York, Nov 08 2012, 12:01 IST
securities, preferred equities and distressed debt, while the Recovery funds also rose from preferred equities as well as financials, according to an investor note sent with monthly results to investors.
Oct. 31 marked the redemption date for many of Paulson's funds, but a source familiar with the requests said they were roughly in line with historical averages, suggesting that investors had not rushed to pull money out despite some disappointing returns.
However, Paulson has had a share of setbacks this year when, for example, Citi Private Bank said it would pull out $410 million. More recently, New York's 92nd Street Y, which had a sweetheart deal where Paulson guaranteed any loss, pulled their money out when the group decided to move out of hedge funds.
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