Friday 20 January 2017

Paulson nursing losses of 18pc on Chinese investment

Published 08/07/2011 | 05:00

JOHN Paulson, the man who made a hugely successful bet on the US sub-prime market, is now nursing losses on investment in China, new figures show.

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Paulson lost 11pc in his biggest fund in June alone, according to an investor, as the firm sold off Sino-Forest Corporation after a short-seller's allegations. The drop left Paulson's Advantage Plus Fund, which uses strategies designed to profit from corporate events such as takeovers and bankruptcies, down 18pc this year, said a client, who asked not to be named.

Paulson & Co sold the entire stake in Sino-Forest, which is based in Hong Kong and Mississauga, Ontario, as of June 17.

Irish Independent

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