Plan to launch Quantum India Fund announced.CURACAO, Netherlands Antilles--(BUSINESS WIRE)--Nov. 30, 1994--The Quantum Group of Funds Quantum Group of Funds are privately owned hedge funds based on Curacao(Netherlands Antilles) and Cayman Islands. They are currently advised by George Soros through his company Soros Fund Management. However it's not publicly disclosed who are the shareholders and owners of those funds. announced its intention to create a new investment vehicle for sophisticated investors, Quantum India Fund (Quantum India). The new fund is being established with the purpose of making industrial and financial investments focused on Indian markets. Soros Fund Management The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. (SFM SFM Sustainable Forest Management SFM Science Fiction Museum (Seattle) SFM Switch Fabric Module (Cisco Systems) SFM Scanning Force Microscope SFM Société Française de Microbiologie ) will be appointed investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and to the new Fund. It is currently envisioned that the new Fund will be modeled after Quantum Industrial Holdings Ltd. (QIH QIH Quick Introduction to Hypertext ), another fund within the Quantum Group. Besides its Indian investments, Quantum India would reserve approximately 20% of its net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. for "macro" trading, including currencies, bonds, stock indices and commodities trading. In addition, interim investments may be made in other funds within the Quantum Group until those funds are drawn down for Quantum India. "With the move by India away from governmental regulation and towards integration into the world economy, a favorable investment climate has emerged," George Soros George Soros Born in Budapest, Hungary, in 1930, George Soros is considered by many to be one of the world's greatest investors. A famous hedge fund manager, Soros managed the Quantum Fund, a fund that achieved an average annual return of 30% from 1970-2000. , head of SFM, wrote in a 22 Nov. 1994 letter to shareholders included in the QIH quarterly report for the third quarter. Soros continued to describe India as "a country where the Quantum Group enjoys a comparative advantage through one of its investment advisors, Dr. Purnendu Chatterjee." Through his affiliation with Soros Fund Management, Dr. Chatterjee, who combines an Indian background with international management expertise, has recently developed a number of attractive investment projects in India, including infrastructure projects, significant stakes in listed companies, and other market niche investments. It is currently anticipated that the new Fund will be capitalized at $1 billion. A management team, appropriate to a fund of this size, is now being assembled in India by Dr. Chatterjee. In contrast to the creation of previous Quantum investment vehicles, Quantum India will be incubated within three existing Quantum Funds: Quantum Industrial Holdings Ltd., Quantum Fund N.V. and Quasar International Fund N.V. Initially, shares of the Fund will not be made available to individual investors. When funds being drawn down for Indian investments reach a sufficient size, the Fund will be spun out and Quantum India will then take on an independent existence. As with all of the funds in the Quantum Group, investment in Quantum India will not be available to U.S. citizens or residents. Soros Fund Management, located in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is a private investment management firm that serves as principal investment advisor to the Quantum Group of Funds. The Quantum Group consists of a number of both open-end and closed-end investment Closed-End Investment When an investment company issues a fixed number of shares in an actively managed portfolio of securities. The shares are traded in the market just like common stock. Notes: Most mutual funds are open-end funds, not closed-end. funds with their principal office in the Netherlands Antilles. Quantum Fund N.V., the oldest and largest fund in the Quantum Group, is generally recognized as having the best performance record of any investment fund in the world over its 25-year history. CONTACT: Quantum Group Ben Jansen, (5999) 322422 or Fax: (5999) 322420 |
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