The legendary investor’s Soros Fund Management – which has approximately $25bn (£16bn) under management – reduced its equity investments by 42pc to $5.1bn by the end of June, down from $8.8bn at the end of March.
The asset allocation decisions were made during a period in which the Standard & Poor’s 500 index – the broadest US equity index – fell 12pc.
The fact that Mr Soros – best known as the man reputed to have made $1bn by “breaking the Bank of England” during the 1992 fiscal crisis – has decided to make such a concerted shift out of equities will send a clear message to other investors.
Full Story: George Soros slashes exposure to US equities – Telegraph