After spending a couple of years in worst performing hedge fund lists, John Paulson's event-driven funds have gained some ground this year. Reuters' Svea Herbst-Bayliss reports that Paulson's flagship Advantage funds were up in the last month. Paulson Advantge ($1.8 billion) took a gain of 1.9 percent, whereas Advantage Plus ($2.6 billion) was at 2.8 percent in the last month. Each fund is now up 10 percent and 14.4 percent, respectively. Paulson's decent returns come at a time when most event-driven funds, such as York Capital and Third Point, had a difficult time navigating the market.
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