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NEW YORK - Goldman Sachs Group's US$8 billion ($10.6 billion) Global Alpha hedge fund has fallen 26 per cent so far this year, a decline that may prompt more investors to withdraw their money, sources say.
Goldman's largest hedge fund, managed by Mark Carhart and Raymond Iwanowsk, has dropped almost 40 per cent since July 31, 2006, said the sources, who declined to be named because the fund is private.
The Standard & Poor's 500 Index of the biggest US stocks has returned 16 per cent during the same period.
"It's hard to imagine how investors can maintain confidence, because their losses have been taking place over a long period of time, starting last year," one fund manager said.
- Bloomberg
