Goldman Sachs is closing a prominent ”quant” hedge fund after the portfolio fell sharply and investors headed for the exits, according to a letter sent to clients of the Global Alpha Fund and people familiar with the situation.
The fund, which employs computer-driven trading strategies, has had a checkered history – reaching $12bn in assets before a sharp decline in 2007. This year has seen more large losses, with a decline of about 12 per cent to the end of August, according to a person familiar with the fund.
www.ft.com/intl/cms/s/0/e99237e8-dfdd-11e0-a820-00144feabdc0.html
The fund, which employs computer-driven trading strategies, has had a checkered history – reaching $12bn in assets before a sharp decline in 2007. This year has seen more large losses, with a decline of about 12 per cent to the end of August, according to a person familiar with the fund.
www.ft.com/intl/cms/s/0/e99237e8-dfdd-11e0-a820-00144feabdc0.html
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