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Goldman Hedge Fund Does Not Live Up To Gold Standard

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Goldman’s Global Alpha, the bank’s flagship hedge fund, posted a 7.7% loss in the last week of July, bringing its performance for the year to -12.1% before fees. Though 2005 brought in gains of almost 40%, the fund is now up to an 18-month streak of not-so-good returns, having reported a 6% loss last year.
Goldman Sachs Asset Management’s profits have been in hurt in the last two quarters because Global Alpha’s performance, or non-performance, has failed to earn fees. Still, CFO David Viniar noted optimistically that there had been no substantial redemptions from the fund (that’s something!) and that things could be worse: they could be Bear Stearns (or Man AHL, which fell 6.7% the same week. Or Sowood. Or John Devaney. Or a bunch of floor traders. Adrien Grenier. Etc).
Goldman Sachs flagship fund falls 8% [FT]