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Birthday : 12/14/1955
Place of birth : New York (New York) - United States
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Biography : John Paulson is the boss of the investment fund Paulson & Co. founded in 1995. It’s thanks to...

Paulson launches alliance to seek better returns in gold sector

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09/21/2018 | 10:05am EDT
FILE PHOTO - Hedge Fund manager Paulson attends the men's singles final match between Federer of Switzerland and Djokovic of Serbia at the U.S. Open Championships tennis tournament in New York

TORONTO (Reuters) - Long-time gold bull John Paulson followed through on Friday on a pledge made last year to team up with other gold investors in an effort to work with management of companies in the gold sector to improve returns, according to the group, called the Shareholders Gold Council.

The coalition, launched by Paulson's U.S. hedge fund Paulson & Co, will issue analyst reports and engage with management to improve capital allocation, compensation and corporate governance in gold companies, the coalition said in a statement.

The initial lineup includes a dozen named investors and four anonymous members.

The council includes Adrian Day Asset Management, Apogee Global Advisors, AMG Fondsverwaltung AG, Delbrook Capital, Equinox Partners LP, Equity Management Associates, John Hathaway, Kopernik Global Investors, Livermore Partners, La Mancha and Sun Valley Gold.

Reuters named a number of these investors in a report earlier this year.

The Shareholders Gold Council will be headed by Christian Godin, who was recently head of equities and director of research at Canadian fund manager Montrusco Bolton Investments Inc.

Paulson & Co called on the world's top investors in gold equities to form a coalition last September. Partner Marcelo Kim attacked the gold mining industry at the Denver Gold Forum, saying the sector needed to address high executive pay, cozy board appointments and value-destroying mergers and acquisitions.

Founded by the billionaire investor in 1994, Paulson & Co manages about $8.7 billion.

(Reporting by John Tilak and Susan Taylor; Editing by David Gregorio)

Stocks mentioned in the article
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DEERE & COMPANY 0.92% 221.97 Delayed Quote.28.11%
GOLD 0.18% 1950.3 Delayed Quote.28.32%
JUST GROUP PLC -7.59% 45.52 Delayed Quote.-42.38%
MEMBERS CO., LTD. 0.56% 1797 End-of-day quote.-21.08%
SEEK LIMITED -1.42% 20.17 End-of-day quote.-10.55%
TEAM, INC. 2.69% 6.5 Delayed Quote.-59.30%
THE GLOBAL LTD. 1.56% 195 End-of-day quote.-58.60%
WILL GROUP, INC. 2.75% 935 End-of-day quote.-25.32%
WORLD CO., LTD. -0.48% 1453 End-of-day quote.-46.01%
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