George Soros’ Quantum Endowment fund makes $5.5 billion in 2013, most successful in history
HIS personal net worth is said to stand at $20 billion but as if that wasn’t enough, billionaire George Soros’ hedge fund has been declared as the most successful of 2013, adding a staggering $5.5 billion to its value.
Soros’ Quantum Endowment fund had its second best year on record since its inception in 1973, according to a report in The Financial Times .
The fund has made a mammoth $39.6 billion over its lifetime, the most successful hedge fund of all time. It’s currently worth $28.6 billion and last year’s profits represented a 22 per cent return on investment.
If you’re thinking “how do I get in on this?”, back up. Hedge funds have been described as mutual funds for the super-rich. The private funds are designed to maximise returns based on a variety of trading strategies. But you generally can’t get into them unless you can prove a high aptitude of the financial markets and trading, and, oh yeah, millions of dollars to your name.
Soros’ fund has been closed to non-family members since 2011.
The 83-year old Soros is known as the man who ‘broke the Bank of England’ in 1992 by shorting the currency which led to the British Government pulling the pound from the European Exchange Rate Mechanism.
There were four other funds which made over $4 billion in 2013.
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