Soros hedge fund career ended after more than four decades

NEW YORK. World-class billionaire, George Soros will end his career as a hedge fund manager this year. Soros will return the entire fund investors outside the company. Currently, the total assets held by Soros Fund Management LLC to reach U.S. $ 25.5 billion.
Soros is 81 years old next month, has decided to focus manage the assets of a company owned by his family alone. Later this year at least Soros will give money to the investors of less than U.S. $ 1 billion. This major decision came after Soros managed to become the investment manager more than four decades.
Through a letter signed by the son of Jonathan and Robert Soros who is vice chairman of the Soros Fund Management LLC, thank you for the trust placed by investors. "We thank you for selecting an investment institution is more than 40 years," the statement letter.
This step is completing the transformation from a speculator Soros became a statesman and philanthropist. Just a reminder, in 1992, Soros had trouble with the Bank of England because of bet with funds amounting to U.S. $ 1 billion and the impact on the devaluation of sterling. Soros is an immigrant from Hungary and studied at the London School of Economics after World War II.
In the last 30 years, Soros has poured funds of about U.S. $ 8 billion to fly the flag of democracy, freedom of speech, to improve education and fight poverty around the world.
Soros's son said the decision manage family assets are also in accordance with new financial regulations in which the investment firm that manages the funds of others are required to report to the Securities and Exchange Commission (SEC) prior to March 2012. The decision was also taken with the reason the company has many assets to manage the family since 2000.
The new rules will also be more stringent in which hedge funds with total assets of over U.S. $ 150 million is required to report information about the investors, employees and managed assets in which the potential conflict of interest would be enormous. Managed funds that are listed will also be subject to periodic inspection ole SEC.