Quantum endowment fund liquidating
Wealthy Europeans put million into the funds in 1969.In 1992, the lead fund, Soros' Quantum Fund, became famous for 'breaking' the Bank of England, forcing it to devalue the pound.To reflect the changed character of the fund, it will be renamed Quantum Endowment Fund.At the same time, we intend to establish some of our existing management teams to whom I am willing to entrust a portion of my own funds as smaller independent funds and we shall be on the lookout for additional teams.Shareholders will be given the choice of remaining in Quota Fund, moving to the portion managed by this adviser or taking cash.Both Stan and Nick will remain associated with the firm, and retain substantial investments in the funds.Using the phrase validates the existence of a category, that is, a group of things where we perceive shared characteristics.
Quantum Fund is far too big and its activities too closely watched by the market to be able to operate successfully in this environment.
We shall engage in a variety of less volatile macro and arbitrage strategies, with a smaller portion of the assets devoted to stock picking on the long and short side.
The allocation of funds between the various strategies may vary from time to time depending on market conditions and other considerations.
Quantum Emerging Growth will continue in its present form.
In this way we shall maintain a capacity for equity investing.