Hedge fund guru George Soros has bought a 3.5% stake in boutique MAM Funds through his company Quantum Partners.
A London Stock Exchange announcement reveals Soros' purchase of 4.7m shares, equivalent to 3.53% of the firm. MAM had a difficult period throughout 2009 as it struggled with its debt obligations, a falling share price, and outflows from its product range. Colin Rutherford came in as chairman to turn the business around, restructuring its debt and selling off non-core businesses to improve the company's finances, and rebranding the group MAM. He has since stepped down from the role. Ex-Gartmore manager Gervais Williams became managing director of the firm at the end of last ye...
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