(Reuters) Bank of America Merrill Lynch is telling its financial advisers to pull clients’ money from billionaire hedge fund manager John Paulson’s Advantage fund and said they are not permitted to put new money into one of his other portfolios. The bank said it has reviewed both funds and is concerned that their concentrated bets on illiquid investments have made them too risky, according to a letter seen by Reuters.
Bank of America Tells Advisers To Exit Paulson Hedge Fund
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