The Quantum Group of Funds are privately owned

hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...

s based in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

Curaçao Curaçao ( ; ; pap, Kòrsou, ), officially the Country of Curaçao ( nl, Land Curaçao; pap, Pais Kòrsou), is a Lesser Antilles island country in the southern Caribbean Sea and the Dutch Caribbean region, about north of the Venezuela coast ...

(

Kingdom of the Netherlands , national_anthem = ) , image_map = Kingdom of the Netherlands (orthographic projection).svg , map_width = 250px , image_map2 = File:KonDerNed-10-10-10.png , map_caption2 = Map of the four constituent countries shown to scale , capital = ...

) and

Cayman Islands The Cayman Islands () is a self-governing British Overseas Territory—the largest by population in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the ...

. They are advised by

George Soros George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated mo ...

through his company

Soros Fund Management Soros Fund Management, LLC is a private American investment management firm. It is currently structured as a family office, but formerly as a hedge fund. The firm was founded in 1970 by George Soros and, in 2010, was reported to be one of the mos ...

. Soros started the fund in 1973 in partnership with

Jim Rogers James Beeland Rogers Jr. (born October 19, 1942) is an American investor and financial commentator based in Singapore. Rogers is the chairman of Beeland Interests, Inc. He was the co-founder of the Quantum Fund and Soros Fund Management. He wa ...

. The shareholders of the funds are not publicly disclosed although it is known that the Rothschild family and other wealthy Europeans put $6 million into the funds in 1973. In 1987, the funds lost $800 million on Japanese stocks shortly before the October 19, 1987 stock market crash. In 1992, the lead fund, Soros' Quantum Fund, became famous for 'breaking' the

Bank of England The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of ...

, forcing it to devalue the pound. Soros had bet his entire fund in a short sale on the ultimately fulfilled prediction that the

British British may refer to: Peoples, culture, and language * British people, nationals or natives of the United Kingdom, British Overseas Territories, and Crown Dependencies. ** Britishness, the British identity and common culture * British English, ...

currency would drop in value, a coup that netted him a profit of $1

billion Billion is a word for a large number, and it has two distinct definitions: *1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is its only current meaning in English. * 1,000,000,000,000, i.e ...

, also known as

Black Wednesday Black Wednesday (or the 1992 Sterling crisis) occurred on 16 September 1992 when the UK Government was forced to withdraw sterling from the European Exchange Rate Mechanism (ERM), after a failed attempt to keep its exchange rate above the ...

. In 1997, Soros was blamed for forcing sharp devaluations in Southeast Asian currencies. On February 14, 1994, the funds had a major loss of $600 million in one day betting against the

Japanese yen The is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar (US$) and the euro. It is also widely used as a third reserve currency after the US dollar and the ...

. The fund lost US$2 billion in investments in Russia during the

1998 Russian financial crisis The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had s ...

. In July 2011, to avoid having to register with the SEC and comply with reporting requirements under the Dodd-Frank reform act, the Quantum Fund announced they would be turning the fund into a family investment group and returning all outside money to investors by the end of 2011. The fund is now managing Soros' family money as well as working with retail investors.

References

{{Reflist

External links

Quantum Group of Funds
''(Archived)''.
Quantum Group of Funds
''(Archived)''. Hedge funds George Soros

See also

References

External links