Funds Hub

Money managers under the microscope

Morning Line-Up: FrontPoint, Kotak, Paulson

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News and views on the asset management industry from Reuters and elsewhere:

FrontPoint raises $1 bln for new fund – FT

Kotak launches India long/short hedge fund – Reuters

Prime Cap doubles China fund, closes to new investors – Reuters

Another good year for the closed-end fund sector – Hemscott

Late gains let Paulson funds race ahead in 2010 – Reuters

Paulson’s Goldman defense

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As stock bets go it is no way the biggest and not particularly dramatic.

But the decision by Paulson & Co. to pick-up some 1 million shares of Goldman Sachs Group in the second-quarter may be some of the most fitting piece of Wall Street poetry to come out of this latest round of 13-F filings.

Of course Paulson’s fund will forever be linked with Goldman because it was the hedge fund at the heart of the Securities and Exchange Commission’s civil fraud case against the Wall Street bank. The SEC, in April, charged Goldman with failing to disclose that Paulson’s hedge fund had a hand in picking securities for a complex mortgage-related deal that the hedge fund was betting against.

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