Saturday, 31 January 2015
Last updated 15 hours ago
Mar 19 2008 | 11:02am ET
Goldman Sachs yesterday reported a drop in hedge fund assets under management and equity funds during the first quarter, while it registered strong inflows into its money market and fixed income businesses.
The firm’s alternative investments unit took in $148 billion this quarter ending Feb. 29, a 2% drop from the previous quarter’s $151 billion. Its equity unit dropped 16% to $214 billion during the same period, while money market fund assets jumped 22% to $252 billion and fixed income rose 2% to $259 billion.
Overall, Goldman reported a 21% increase in assets under management from a year ago to $873 billion with net inflows of $29 billion during the quarter.
Lloyd Blankfein, chairman and CEO, remains optimistic about the firm’s position during volatile and uncertain time.
“Market conditions are clearly very difficult,” said Blankfein. “But we saw strong customer activity across many of our franchise businesses in the first quarter. Although market conditions present many challenges at the moment, they also offer considerable opportunities.”
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…