Monday, 29 August 2016
Last updated 7 min ago
Feb 8 2008 | 9:48am ET
When it comes to hedge fund returns, the news has been all bad for Goldman Sachs lately. Almost all bad, anyway.
The Wall Street giant said yesterday that two of its hedge funds enjoyed positive returns in December, bucking the trend for hedge funds generally and for the firm’s own offerings in particular.
Goldman’s Tactical Trading Fund rose 1.72% in December, according to a regulatory filing, while its Global Equity Long/Short Fund returned 1.04%.
Even the bad news wasn’t that bad: The Goldman Sachs Global Relative Value Fund declined by just by 0.31%.
Of course, those numbers are unlikely to cheer many at Goldman. The firm’s flagship Global Alpha fund shrunk by 60% on investment losses and redemptions last year. Its new stock-picking strategy, Goldman Sachs Investment Partners, fell 6% in its first month of trading in January.