Goldman Sachs (GS) Flagship Fund Loses Close To $1 Billion
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The Financial Times reports that one of Goldman Sachs' (NYSE: GS) flagship funds, Goldman Sachs Investment Partners has lost almost $1 billion since it launched in January. The fund has a two-year lock -in and mainly invests in equities
When this Goldman fund launched in January it raised more than $6 billion, but by September this year, the fund has already told investors that it lost $989 million. The Goldman fund is down approximately 13% fund in Q3 and YTD performance is down about 15.5%.
As has been reported throughout the media, hedge funds are having an extremely difficult year with stocks and asset prices in free fall and redemptions at record highs.
The fund has a two-year lock-in and has a strong bias towards equities, is managed by Raanan Agus and Kenneth Eberts, former heads of prop desks at Goldman.
This fund was launched after Goldman had a bad year with its quantitative, or computer-driven, hedge funds which forced the bank to inject $3 billionn to rescue its Global Equity Opportunities fund.
More than 50% of GS Investment Partners' losses in Q3 was from its investments in commodities, basic materials, metals, mining, energy and the agriculture sector
When this Goldman fund launched in January it raised more than $6 billion, but by September this year, the fund has already told investors that it lost $989 million. The Goldman fund is down approximately 13% fund in Q3 and YTD performance is down about 15.5%.
As has been reported throughout the media, hedge funds are having an extremely difficult year with stocks and asset prices in free fall and redemptions at record highs.
The fund has a two-year lock-in and has a strong bias towards equities, is managed by Raanan Agus and Kenneth Eberts, former heads of prop desks at Goldman.
This fund was launched after Goldman had a bad year with its quantitative, or computer-driven, hedge funds which forced the bank to inject $3 billionn to rescue its Global Equity Opportunities fund.
More than 50% of GS Investment Partners' losses in Q3 was from its investments in commodities, basic materials, metals, mining, energy and the agriculture sector
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