Soros dumps his investors to avoid new Dem financial regs

FINANCIAL TIMES: George Soros, the billionaire hedge fund manager, is closing his Quantum fund to outside investors and returning their money.

Quantum, which will continue to manage about $24.5bn of Soros family money, blamed the decision on new financial regulations requiring hedge funds to register with the Securities and Exchange Commission.

Please respect FT.com’s ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email ftsales.support@ft.com to buy additional rights or use this link to reference the article – http://www.ft.com/cms/s/0/42bd6288-b785-11e0-b95d-00144feabdc0.html#ixzz1TJRkEOwR

“An unfortunate consequence of these new circumstances is that we will no longer be able to manage assets for anyone other than a family client as defined under the regulations”, Jonathan and Robert Soros, Mr Soros’ sons and Quantum’s co-deputy chairmen, wrote in a letter to investors on Tuesday.

New regulations require hedge funds with more than $150m under management to report details about investments, employees and investors, and also makes them subject to possible inspections by the SEC. Mr Soros’ decision contrasts with his own reputation as an advocate for both government and corporate transparency.

Read more here >>>

Facebook comments:

Leave a Reply

You must be logged in to post a comment.

Login to Join Discussion!



Categories