Friday, 29 April 2016
Last updated 25 min ago
Jul 20 2011 | 11:23am ET
Soros Fund Management's flagship hedge fund has about three-quarters of its assets in cash as the New York-based firm waits out the economic uncertainly in hopes of finding better opportunities.
A 6% loss through mid-June pushed Keith Anderson, the manager of the $25.5 billion Quantum Endowment Fund, to pull back. He ordered his portfolio managers to cut back on their trades, Bloomberg News reports, leaving the fund about 75% cash, one of many hedge funds overweight cash amidst perplexing economic times.
Moore Capital Management is another; the firm cut risk after it lost about 6% in the first half.