Quantum Group of Funds

From Wikipedia, the free encyclopedia

This article needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (November 2007)

The Quantum Group of Funds are privately owned hedge funds based on Curaçao (Netherlands Antilles) and Cayman Islands. They are currently advised by George Soros through his company Soros Fund Management. The shareholders of the funds are not publicly disclosed.

In 1992, the lead fund, Soros's Quantum Fund became famous for "breaking" the Bank of England, forcing it to devalue the pound.= Soros had bet his entire fund in a short sale on the prediction that the British currency would drop in value (it did), a coup that netted him a profit of $1 billion. In 1997, Soros was blamed for forcing sharp devaluations in Southeast Asian currencies.