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Encyclopedia > Soros Fund Management

Soros Fund Management LLC, founded by George Soros, is a privately held corporation providing financial services and investment strategies for various funds including some controversial hedge funds such as the Quantum Group of Funds. The company's investment strategies have been based on analysis of real or perceived macroeconomic trends in various countries. Soros' companies have been accused of applying pressure on currencies to directly benefit their speculative strategies. Soros responds to these charges by saying that his funds merely take advantage of known weaknesses in the international financial system. George Soros George Soros (born August 12, 1930 in Budapest, Hungary as Soros György) is a Hungarian-born American businessman. ... A corporation is a legal entity (distinct from a natural person) that often has similar rights in law to those of a Civil law systems may refer to corporations as moral persons; they may also go by the name AS (anonymous society) or something similar, depending on language (see below). ... The term hedge fund dates back to the first such fund founded by Alfred Winslow Jones in 1949. ...

Contents

1992

In 1992, Quantum Funds made $1 billion in less than a week by shorting British pounds and buying German marks. This feat earned Soros the title of "the Man Who Broke the Bank of England". There were unsubstantianted and unspecific allegations that individuals affiliated with Soros gathered information in an undisclosed manner about the Bundesbank's policy toward the British pound [1] (http://www.brookesnews.com/george-soros.html). On the other hand British government policy in the period before the ejection of the pound sterling from the Exchange Rate Mechanism of the European Monetary System has been widely criticised, for providing speculators with a one-way bet; and in terms of British domestic politics the handling of that situation was subsequently an issue of major importance. 1992 is a leap year starting on Wednesday of the Gregorian calendar. ... The word billion, and its equivalents in other languages, refer to one of two different numbers. ... In finance, short selling is selling something that one does not (yet) own. ... For details of notes and coins, see British coinage and British banknotes. ... The United Kingdom is a unitary state and a democratic constitutional monarchy. ... The pound sterling, which strictly speaking refers to basic currency unit of sterling, now the pound, can generally refer to the currency of the United Kingdom (UK). ... The European exchange rate mechanism (or ERM) was a system introduced by the European Community in March 1979, as part of the European Monetary System (EMS), to reduce exchange-rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of a single... European Monetary System (EMS) was an arrangement established in 1979 where most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. ...


External links

News

  • Schwartz to vacate Soros CEO seat - 23/12/2004 (http://www.afsrmagazine.com/cgi-bin/articles.pl?section=1&id=442&action=display)

Other


  Results from FactBites:
 
George Soros at AllExperts (3577 words)
Soros was taught to speak the language from birth and thus is one of the rare native Esperanto speakers.
Soros is the founder of Soros Fund Management.
Soros was not a large donor to US political causes until the U.S. presidential election, 2004, but according to the Center for Responsive Politics, during the 2003-2004 election cycle, Soros donated $23,581,000 to various 527 Groups dedicated to defeating President George Bush.
Fraternity Fund Management Limited | Soros Hedge Funds Quantum Offshore Investment (1031 words)
Fraternity Fund is a fund of hedge funds, which invests; in a variety of diversified hedge funds that are managed by world class Alternative Investment Managers including George Soros.
The Fraternity Fund is a "fund of fund" of hedge funds.
The management of Fraternity Fund Ltd. believes that smaller institutional investors as well as smaller "sophisticated" investors should be able to easily invest in a broad portfolio of funds advised by George Soros one of the world's most successful investors and other successful hedge fund managers.
  More results at FactBites »


 

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