After a terrible performance for 2016, John Paulson’s merger arbitrage fund has made a relatively impressive start to 2017. After losing 23.6% during 2016, the fund is up 1.7% year-to-date and has achieved a positive return since November of last year, according to an investor document, a copy of which has been reviewed by ValueWalk.
The performance update, which was published earlier this month for trading up until the end of February, notes that at the end of the reporting period the fund had 37 long positions, four short positions and a gross long exposure of 96.4%.
