Hedge fund veteran Soros retires

George Soros is set to retire from managing money for outside investors after almost 40 years running hedge funds.

Soros Fund Management will continue to manage money for Soros and his family but will return money to outside investors by the end of 2011, Bloomberg has reported. Soros, 81 next month, is thought to manage less than $1bn in external money within his portfolios. A letter to investors signed by Soros' two sons, who are co-deputy chairmen at the company, added Soros Fund Management CIO Keith Anderson is set to leave the firm. The letter said the decision has been made because of new regulations that would have required the firm to register with the Securities and Exchange Commission ...