Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, June 30, 2014

Paulson's Credit Opportunities fund up 6.6 percent ytd to end-May -source, (NYSE: AGN)

Hedge fund manager John Paulson's credit opportunities and merger arbitrage funds were up 6.6 percent and 3.3 percent year-to-date through the end of May, respectively, easily surpassing their benchmarks, according to an investor in attendance at Paulson & Co's recent mid-year client event. Paulson, who runs more than $21 billion and made headlines last week on news he amassed a large stake in Allergan Inc of more than six million shares and supports a deal between the Botox maker and Valeant Pharmaceuticals Inc , told clients at the recent London event that merger arbitrage spreads are "becoming attractive," noting Allergan and Mallinkckrodt's acquisition of Questcor Pharma.

Allergan, Inc. is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products. Shares of AGN fell by 2.63% or $-4.57/share to $169.38. In the past year, the shares have traded as low as $82.56 and as high as $173.96. On average, 4527360 shares of AGN exchange hands on a given day and today's volume is recorded at 1963267.



Source