Quantum Group of Funds

{{Short description|Hedge funds involved in international trading}}

{{Use American English|date=January 2019}}

The Quantum Group of Funds are privately owned hedge funds based in London, New York, Curaçao (Kingdom of the Netherlands) and Cayman Islands. They are advised by George Soros through his company Soros Fund Management. Soros started the fund in 1973 in partnership with Jim Rogers.{{Citation needed|date=March 2023}}

In 1987, the funds lost $800 million on Japanese stocks shortly before the October 19, 1987 stock market crash.{{Cite web |date=7 March 1994 |title=Money Speculator Soros Weathers $600-Million Blow : Currency: The widely watched billionaire, who manages the international Quantum Group funds, appears to have shaken off the rumors that he is in financial trouble. |url=https://www.latimes.com/archives/la-xpm-1994-03-07-fi-31188-story.html |access-date=23 October 2021 |website=Los Angeles Times}}

In 1992, on what became known as Black Wednesday, Soros' lead fund, Quantum Fund, became famous for profiting from the devaluation of the pound when the currency left the Exchange Rate Mechanism. Soros had bet his entire fund in a short sale on the ultimately fulfilled prediction that the British currency would drop in value, netting him a profit of $1 billion.Niall Ferguson: The Ascent of Money. A Financial History of the World. Penguin Books, London 2009, {{ISBN|978-0-14-103548-2}} In 1997, Soros was blamed for forcing sharp devaluations in Southeast Asian currencies.{{Cite news |last=David Serchuk |date=April 13, 2007 |title=Burma's Billionaire |work=Forbes |url=https://www.forbes.com/global/2007/0423/058.html}}

On February 14, 1994, the funds had a major loss of $600 million in one day betting against the Japanese yen.

The fund lost US$2 billion in investments in Russia during the 1998 Russian financial crisis.Gretchen Morgenson. (Aug. 27, 1998). [https://www.nytimes.com/1998/08/27/business/international-business-soros-s-quantum-fund-losses-in-russia-put-at-2-billion.html Soros's Quantum Fund Losses in Russia Put at $2 Billion], New York Times.

In July 2011, to avoid having to register with the SEC{{Cite news |title=George Soros closes funds: the letter in full |language=en |work=Telegraph.co.uk |url=https://www.telegraph.co.uk/finance/personalfinance/investing/8663995/George-Soros-closes-funds-the-letter-in-full.html |access-date=2017-08-02}} 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.{{Cite web |last=McCrum |first=Dan |date=27 July 2011 |title=Soros to close Quantum fund to outsiders |url=https://www.ft.com/content/42bd6288-b785-11e0-b95d-00144feabdc0 |url-status=live |archive-url=https://archive.today/20171218002238/https://www.ft.com/content/42bd6288-b785-11e0-b95d-00144feabdc0 |archive-date=18 December 2017 |access-date=2017-08-02 |website=Financial Times}} The fund is now managing Soros' family money as well as working with retail investors.{{Cite news |last=Mark DeCambre |date=February 10, 2014 |title=George Soros's fund killed it in 2013, but most hedge funds didn't |publisher=Quartz (publication) |url=http://qz.com/175450/george-soros-fund-killed-it-in-2013-but-hedge-funds-didnt/}}

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