Soros Fund Management, the firm that invests the fortune of billionaire George Soros, sold gold and bulked up on riskier sectors including energy and emerging markets during the third quarter.
The firm sold its position in SPDR Gold Shares worth $30.4 million as of June 30, according to a regulatory filing Monday. As of the same date, it increased its exposure to Japan, China and emerging markets exchange-traded funds. The firm added positions in WisdomTree Japan Hedged Equity Fund and iShares China Large-Cap ETF worth $34.1 million and $24.1 million, respectively. It also bought $91.9 million worth of iShares MSCI Emerging Markets ETF.