Paulson's biggest hedge funds extend gains in September -source

Reuters

BOSTON, Oct 7 (Reuters) - Hedge fund manager John Paulson,who made billions on the housing market and gold a few yearsago, extended this year's gains in September, when his biggestportfolios were all up, leaving them with double-digit gains forthe year, a person familiar with the numbers said on Monday.

Paulson & Co's Recovery Fund gained 4.2 percent and is up37.8 percent for the year, while the Advantage Fund, which hadsuffered heavy losses in the last year, inched up 0.9 percent inSeptember and is up 11 percent for the year, according to theperson, who is not permitted to speak about the private fundspublicly.

The average hedge fund is up about 4.5 percent, researchfirm Hedge Fund Research reported.

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