George Soros has yet to place $1bn of capital from his new $6.5bn-plus Quantum Endowment fund, with external investment managers.

The new fund was created by the merger of the Quantum fund and Quantum Emerging Growth fund, following the recent string of top level departures, downturn in performance and loss of client money. Soros claimed today in London that he had since lost less than $3bn - 'less than I expected,' he added.