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Paulson gains as 'Mooch' rotates to stocks

His funds benefit from an injection of US$490m from SkyBridge's main fund of funds

New York

HEDGE-FUND manager John Paulson is one of the biggest beneficiaries of a great rotation from bonds to stocks at the firm led by Anthony "the Mooch" Scaramucci.

Mr Scaramucci's SkyBridge Capital II LLC, a New York-based adviser that allocates client capital to outside money managers, has been moving cash from income-producing hedge funds, such as those that buy bonds, to event-driven funds that bet on stocks. SkyBridge's main fund of funds steered US$490 million, or 15 per cent of its invested capital, to Mr Paulson's funds in the six months ended Sept 30, regulatory filings show, as the billionaire manager's main strategies surged.

With the Federal Reserve preparing to scale back its debt-buying...

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