Zug, Switzerland, April 13 – Quantum Global Group today issued a clarification with regards to the status of its mandates with the Fundo Soberano de Angola (FSDEA).
Due to changing priorities in Angola, the recently appointed administration at the FSDEA notified Quantum Global Investment Management Ltd. in February 2018 that it wished to terminate the multi-asset-class mandate.
The reasons for the termination were not related to the performance of the portfolio, which has increased in value and generated strong, above-benchmark returns under Quantum’s management. Following the termination, Quantum Global’s Swiss company no longer manages funds for the FSDEA. Quantum Global is proud of the work it has done for the FSDEA on the multi-asset-class mandate.
Quantum Global’s private equity mandates are managed by its Mauritius-based operations, and these continue. Quantum Global is proud of the performance it is delivering on its private equity mandates on behalf of FSDEA, the results of which are publicly disclosed by the FSDEA in its audited financial statements. These funds are managed according to strict IFRS reporting standards.
As previously stated, Quantum Global has managed all client funds in accordance with approved investment policies and applicable laws. Furthermore, the Group’s financial activities are conducted in accordance with the laws of the jurisdictions where it operates, including Angola, Mauritius and Switzerland.
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