STAMFORD, Conn. — SAC Capital Advisors LLP, one of the nation’s most prominent hedge funds, is closing its flagship fund to new investors starting Aug. 1, a person familiar with the situation said Wednesday.

The hedge fund, run by Steven Cohen, is “soft closing” the $14-billion fund, the person said, meaning that it is not accepting capital from new investors for the time being, but may accept funds again at a later date.

SAC’s decision came one day after George Soros announced he will return about $1 billion in outside investor capital to avoid having to register with the Securities and Exchange Commission.

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