Topic summary
Quantum Fund
Extracted from the Wikipedia article Soros Fund Management.
Quantum Group of Funds
In 2000, the Quantum Fund lost its position as the largest hedge fund in the world when its assets under management changed from $10 billion to $4 billion in about a year. The fund's losses resulted from investments in technology stocks. That year, CEO Duncan Hennes and the managers of the Quantum Fund, Stanley Druckenmiller, and Quota Fund, Nicholas Roditi, resigned. The restructuring of Soros Fund Management was announced in a shareholder letter that outlined its plan to merge the Quantum Fund with the Quantum Emerging Growth Fund to form the Quantum Endowment Fund. The intention was to transform the Quantum Fund into a "lower-risk, less-speculative fund" administered by an outside adviser. In July 2011, to avoid having to register with the SEC, also meaning it would have 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 managing Soros' family money, as well as working with retail investors.