|
|
Article: A weighty Goldman Sachs hedge fund stumbles MARKETPLACE by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- December 11, 2006
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
|
Katherine Burton
International Herald Tribune
12-11-2006
The $10 billion flagship hedge fund at Goldman Sachs Group dropped 11.6 percent this year through the end of November as its managers misjudged the direction of global stock and currency markets, according to two investors.The fund, called Global Alpha Fund, lost money partly on bets that equity markets in Japan would rise, that stocks in the rest of Asia and the United States would fall and that the dollar would strengthen, the investors said. In August, the fund lost almost 10 percent on unprofitable investments in global bond markets. Goldman, based in New York, is the largest hedge fund manager in the world, with $29.5 billion in ...