According to overseas media reports, the Quantum Fund under Soros Fund Management Company, with total assets of $25.5 billion, has converted 75% of its assets into cash to wait for better opportunities.
It is reported that Anderson, who is in charge of the operation of Quantum Fund, asked the fund portfolio manager to reduce transactions in mid-June, which led to an increase in the proportion of cash held by the fund to about 75% in order to wait for better investment opportunities. The data at that time showed that this year, Quantum Fund lost 6%.
The prospect of financial market is full of uncertainty, and even Soros, who has always been shrewd, feels helpless. As early as April, Soros said at a meeting that compared with the 2008 financial crisis, the current market situation is more unpredictable and the market itself is unstable. Although it will not collapse immediately, it will not turn around immediately.
A survey shows that the mentality of fund traders also tends to be conservative. According to a survey released by Bank of America a few days ago, about 18% of fund managers, including the hedge fund industry, started to hold cash, which was significantly higher than 6% in May and reached the highest level in the past year.