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Soros' Quantum Endowment Fund Earned $5.5 Billion in 2013

By    |   Tuesday, 11 February 2014 07:45 AM

George Soros' $28.6 billion Quantum Endowment fund generated a return of 29 percent, or $5.5 billion, last year, according to LCH Investments, the Financial Times reports.

The fund is run by Chief Investment Officer Scott Bessent with oversight from Soros.

The 29 percent return was the highest for the fund since 2009, when it also earned 29 percent. The gains came from an array of different strategies.

Editor’s Note:
18.79% Annual Returns . . . for Life?

The performance put Quantum, which began in 1973, at the top of rankings for making the most total money of any hedge fund over its history, almost $40 billion, according to Rick Sopher, chairman of LCH Investments.

He only counts funds that utilize a single manager and don't trade on computer models. The stellar 2013 allowed Quantum to overtake Ray Dalio's Bridgewater Pure Alpha at the top of the list.

Since the top 20 hedge funds were established, they have taken home 43 percent of all the industry's returns, counting more than 7,000 funds.

"They did far better than the hedge fund indexes," Sopher said, according to the Times. "These funds are still in the mode of being get-rich vehicles rather than stay-rich vehicles."

Meanwhile, after lagging far behind a torrid stock market last year, hedge funds outperformed the market in January. The average fund slid just 0.56 percent last month, according to eVestment, compared with a 3.5 percent drop for the Standard & Poor's 500 Index.

Hedge funds often outperform in bear stock markets through short stock positions. "Initially they may suffer a minor capital loss, but it will be substantially less than long-only funds," Michael Weinberg, a professor at Columbia University's business school, told Reuters.

Editor’s Note: 18.79% Annual Returns . . . for Life?

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George Soros' $28.6 billion Quantum Endowment fund generated a return of 29 percent, or $5.5 billion, last year, according to LCH Investments, the Financial Times reports.
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2014-45-11
Tuesday, 11 February 2014 07:45 AM
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