Friday, 26 August 2016
Last updated 17 hours ago
Aug 6 2007 | 9:04am ET
With hedge funds almost across the board reporting big losses in July, thanks to the collapsing sub-prime market and declining equities, it should be no surprise that Goldman Sachs’ once-golden flagship hedge fund is awash in red-ink for the month.
The $10 billion fund—which could do no wrong during its first decade of existence—is in the midst of a now 18-month-long tailspin.
The fund reportedly lost 7.7% in the week ended July 27, bringing it’s year-to-date decline to 12.1%, more than twice its decline in 2006, it’s first-ever year in the red.
The fact that it has a lot of company will not likely cheer managers Mark Carhart and Raymond Iwanowski: It’s now down as much in 2007 alone as it was in the 16 months through April of this year.