John Paulson’s gold fund, the PFR Gold Fund, lost 23 percent in June, bringing its full-year loss to 65 percent year-to-date, Bloomberg reports. The fund now has only $300 million in assets, which is said to be mostly Paulson’s personal stash. Gold lost 23 percent in the second quarter, its biggest quarterly loss since the 1970s.
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Brian Taylor’s Pine River Capital Management reported that on June 26 it bought about 4.4 million shares of American Capital Mortgage Investment, bringing its stake in the heavily beaten down mortgage REIT (real estate investment trust) to 9.2 percent. The stock had fallen 40 percent since it reported a shockingly worse first-quarter than anticipated shortly before interest rates in general spiked higher. The stock rose slightly — and less than the market as a whole — to $21.17 on Tuesday.
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Anthony Scaramucci’s SkyBridge Capital announced a strategic partnership with Korea’s Woori Investment & Securities, which will distribute SkyBridge’s hedge fund products throughout Korea and other parts of Asia. Under the deal, Woori allocated capital to a SkyBridge fund of hedge funds vehicle. SkyBridge, best known for its SkyBridge Alternatives “SALT” Conference, managed or advised on roughly $8.2 billion in assets as of May 31.
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Millennium Management’s managed accounts and prime services division expanded its sales and business development team, saying it is in response to growing demand for its technology platform, which helps emerging hedge fund managers and investors. The division appointed Bob Chicoine, Harry Freda and Nick Rizzi as managing directors who will be responsible for selling the firm’s managed accounts and prime brokerage services to both hedge fund managers and investors.
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Alan Howard’s BH Macro Ltd. has gotten off to a fast start this month, rising 1.33 percent in the first four trading days. This pushed up its gains for the year to 5.31 percent. The fund is a listed vehicle that tracks the performance of London-based Brevan Howard’s main global macro fund.
