Quantum Funds

The Quantum Fund was a hedge fund founded by George Soros in 1969 .

This became known in 1992 through speculation based on the global macro strategy against the overvalued British pound . Through a tactical sales of 10 billion pounds, mainly against the German mark and the French franc , the British central bank was Bank of England no longer in a position to foreign exchange intervention , the fixed exchange rates of the British pound against the currencies of the other EMS members maintain . On September 16, 1992, " Black Wednesday ", the Bank of England was forced to devalue the British pound. After the devaluation, the Quantum Fund was able to buy back the pound sterling at a lower rate. Through the successful bet against the British pound of Soros Fund Management reported a profit of 1 billion within a week US dollar . This trade made the Quantum Funds known worldwide, as Great Britain abandoned the fixed exchange rates and left the European Monetary System as a consequence .

Web links

Hedge funds: George Soros makes the biggest profit. In: Handelsblatt Online . February 11, 2014.; accessed on April 20, 2018

Individual evidence

↑ ^a ^b Ursula Radel-Leszczynski: Hedge funds for beginners . Springer-Verlag, Berlin / Heidelberg 2005, ISBN 978-3-540-27037-9 , pp. 144 ( limited preview in Google Book search).

[Radel-1] Ursula Radel-Leszczynski: Hedge funds for beginners . Springer-Verlag, Berlin / Heidelberg 2005, ISBN 978-3-540-27037-9 , pp. 144 ( limited preview in Google Book search).