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After Mr Morrison's departure, however, all of the major investors sold out of the fund, leaving it with assets of just $15m by September 2002.
Progressive physicians favor a single-payer health plan serving as an insurance fund, leaving physicians free to organize their own practices and patients free to choose their physicians.
In recent months, investors have asked to withdraw about $5 billion from the $14 billion fund, leaving only about $1 billion of outside capital.
But now, the analyst in charge of the firm's banking bets is departing to start his own hedge fund, leaving a mixed record in his wake.
BP said it had passed its $38bn divestment target to help create a Deepwater Horizon compensation fund, leaving it with "a stronger set of assets".
The authority has been unable to pay its debts to private companies and the public pension fund, leaving it about $500 million in arrears, in addition to its debt of $1.1 billion to private banks.
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Mr. Feig, the co-chief investment officer of the macro fund, left after less than a year in July.
Michel Camdessus, the Frenchman who currently heads the fund, leaves the post in mid-February, having announced his retirement in November.
A NUCLEUS IN EACH CITY The Work Is Made Possible by the Fund Left for the Purpose by Henry W. Ranger.
During the 1997-98 financrisisrisis, bailouts from the International Monetary Fund left Asian countries with no choice but the strictest of austerity measures and free-market reforms.
But then future money would have to come out of the general fund, left to the mercy of the political winds.
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