Paulson’s Advantage Plus fund lost 6.9 pct in June- Bloomberg

July 8 (BestGrowthStock) – Billionaire hedge fund manager John
Paulson’s Advantage Plus fund lost 6.9 percent in June,
Bloomberg News reported, citing investors.

The fund has now lost 8.8 percent through the first half of
2010, the report said.

Paulson’s Advantage and Advantage Plus funds were supposed
to profit from a spike in share prices, including that of
financial services companies, two clients briefed on the
returns told Bloomberg.

Paulson’s firm Paulson & Co manages about $35 billion.

Paulson, who correctly bet that housing prices would fall
three years ago, had raised the holdings in financial companies
in the first quarter. [ID:nN17104105]

The S&P 500 Index (.SPX: ) and the Nasdaq index (.IXIC: ) lost
12 percent each in the April-June quarter, while the Dow Jones
Industrial average (.DJI: ) fell 10 percent as worries about
sovereign debt and the U.S. economic recovery triggered a pull
back from a peak hit in late April. [ID:nN30247163]

However, Paulson has not changed his bullish views even
after the stock market’s decline, the report said citing
investors.

Armel Leslie, a spokesman for the fund firm, declined to
comment to the news agency.

Paulson & Co could not immediately be reached for comment
by Reuters outside regular U.S. business hours.
(Reporting by Sakthi Prasad in Bangalore; Editing by Dhara
Ranasinghe)

Paulson’s Advantage Plus fund lost 6.9 pct in June- Bloomberg