Paulson personally has done better than at least some of his clients because most of his own money is invested in the firm's gold-denominated share classes, which have outperformed the dollar classes this year.
Gold Shares
The gold shares of Advantage Plus Fund fell 10 percent this year through July, compared with the 22 percent for the dollar class. Gold climbed about 23 percent this year through Aug. 9.
Armel Leslie, a spokesman for Paulson, declined to comment.
Paulson sent a memo to investors last week saying that Sept. 30 redemptions for Paulson Advantage funds, which together oversaw $15.7 billion as of Aug. 4, were less than the amount clients demanded a year earlier, and less than any quarterly redemption in the past two years.
Clients in the Advantage Plus Fund can remove money on June 30 and Dec. 31, with 60 days' notice. Clients in the Advantage Fund can get back their money quarterly with 60 days notice.
Paulson and his employees account for 36 percent of assets in the Advantage funds.