Pharo Management, a UK-based hedge fund told investors it returned $300 million to Saudi Arabia in a rare rebuke to the oil giant, according to Bloomberg.
The decision was made in response to the October killing of the journalist Jamal Khashoggi that has been linked to the Saudi state.
UK hedge fund Pharo Management told its investors that it returned $300 million of Saudi Arabian money following the murder of the journalist Jamal Khashoggi. It's also not the first time in recent memory that a hedge fund has decided to focus on principles. Earlier this month, Hildene Capital Management pulled funds from Purdue Pharma, the brand known for producing Oxycontin,to the Wall Street Journal. The Sackler family, which controls Purdue, has been under increasing pressure over its ties to the opioid epidemic in the US.
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