Soros hedge fund blames SEC for exit
Tuesday 26 July 2011 - by Jacqui Street
A major US hedge fund is closing its books to outside investors blaming new US stock exchange rules.
The Soros family says the Quantum fund was repackaged in 2000 and will continue, but without outside investment.
"We will no longer be able to manage assets for anyone other than a family client as defined under the regulations."
This year the fund was reported to have $27.9bn (€19.2bn) in assets under management and was ranked highly among international hedge funds.
The Soros' say the company will return capital to outside investors, most likely at year end.
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