Goldman’s Hedge Fund Assets Drop in Q1

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.”


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.