As central banks begin to inquire more closely into his operation, Mr Soros has reduced the size of his flagship Quantum fund by almost a quarter, in line with his declared policy of keeping the fund to a manageable size. But the reduction has done nothing to limit the extent of his overall empire.
Investors in Quantum, and three other funds already spun off to keep Quantum's size under control, are expected to plough about dollars 1.2bn into a new fund, Quantum Industrial Holdings. The new fund's investment policies reflect Mr Soros's deepening problems in finding new places to put the vast sums under his control.
Quantum is distributing dollars 4,600 per share, reducing the size of the fund by dollars 900m. The net asset value dropped by about 25 per cent.
Inside the money machine, pages 2-3