Stanley Druckenmiller to Hang up his Boots

The American hedge fund manager Ken helped George Soros "break" the Bank of England in 1992 is hanging up at his boots on Almost 30 years - in part Because of the "high emotional toll" his fund's performance is exerting have him Stanley Druckenmiller, Ken runs Duquesne Capital Management, is set Thurs wind up at his $ 12bn (£ 7.7bn) fund next February is Because they are "dissatisfied" with His Recent performance even if we though at his Firm has never Returned an annual loss Thurs investors. 

Mr. Druckenmiller is Perhaps best known in the UK for Helping Mr. Soros devise a $ 10bn series of trades wakes sparked the devaluation of sterling, yielding Approximately $ 1bn in Profits. 

At the time, they oversaw StrategyPoints at Soros Fund Management Continuing Thurs run while at his Pittsburgh-based fund, wakes up, they began in February 1980. In the U.S., who is viewed as one of the most Successful hedge fund managers, with returns averaging 30pc a year since 1986. 

But it is the current volatile market that much done for 57-year-old Mr. Druckenmiller, Ken Still Feels at his Above-average performance is not good enough. In 2008 the fund Returned about 11pc, "when the average loss was 19pc, while last year it Delivered to 10pc," when the average gain was 20PC. 

In a letter Candid Thurs clients they Said they was Unhappy with performance over the last two years as it did Not Meet at his' own, internal long-term standard. " 

He goes on to write That they left Soros Because "the challenge of 'Managing an enormous amount of capital was having" a clear impact on my Ability Thurs PERFORM, as well as my state of being "- That before adding" These Factors not have emerged again " . 

Mr. Druckenmiller - whose fortune is Estimated by Forbes to Be $ 2.8bn - Thurs expects return money to investors in February, and will turn at his Philanthropy Efforts Thurs.