Bank of America’s Merrill Lynch wealth management unit is pulling $82 million in client assets out of John Paulson’s Advantage Access Fund due to volatility and liquidity concerns, multiple sources with familiarity of the situation tell ValueWalk.
BAML confirms withdrawal from Paulson advantage fund
A spokeswoman at Merrill Lynch confirmed the withdrawal in a statement to ValueWalk: “As part of our commitment to our clients, we provide rigorous initial due diligence and ongoing detailed analysis of all funds on our platform, and remain in constant dialogue with fund managers regarding changes to the funds or their management.” When reached, a spokesperson for Paulson Funds did not comment.
The $82 million withdrawal of the fund is but a small percentage of Paulson’s nearly...
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