Mine, all mine

8 Mar 2011 By Rob Cox Follow @rob1cox

Carl Icahn is the latest investor to shuffle off the burden of managing other people’s money. With his $5 bln, he joins an elite club. Icahn’s own money can’t take flight and his returns might even improve. Perhaps above all, he won’t ever have to handhold anxious clients again.

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Billionaire hedge fund manager Carl Icahn, 75, said he plans to return all of his clients' money, focusing on the $5 billion of his own wealth in his investment firm.

"After careful consideration of all relevant factors, we have determined to return all feepaying capital to investors," he wrote in an investor letter released in a regulatory filing on March 8.

Since its launch in 2004, Icahn Capital said it has delivered gross returns of 106.9 percent. In the first two months of 2011, the fund returned 8.7 percent and posted gross returns of 33.3 percent and 15.2 percent in 2009 and 2010 respectively.

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