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To: Ironyman who wrote (22322)	10/27/1998 9:21:00 AM
From: cool	Read Replies (1) \| Respond to of 116758

WASHINGTON, Oct 27 (AFP) - Billionaire financier George Soros will terminate one hedge fund and has informed investors that the manager of another fund is taking a medical leave of absence, press reports said Tuesday. Soros told investors in a letter Friday that his 1.5-billion-dollar Quantum Emerging Market Fund had dropped 31 percent in value this year, which analysts attributed to global economic weakness. At the same time he said that Nicholas Roditi, the highly regarded manager of Soros' 1.7-billion-dollar Quantum Fund, was taking a temporary medical leave of absence. Soros explained the decision to close down the emerging market fund as part of a "corporate restructuring," according to reports. The departure of the 53-year-old Roditi, who is based in London, comes after "six tiring (and very profitable) years," Soros said in his letter. Quantum Fund had a 49 percent return last year and 82 percent in 1996, according to the Wall Street Journal. To date this year it is down 13.6 percent. nh/xb