Sat, May 7, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Goldman Sachs raises $58m in first month of its 'hedge fund for the masses’

Thursday, June 06, 2013

From Komfie Manalo, Opalesque Asia – Less than a month after introducing its "hedge fund for the masses," Goldman Sachs asset management arm’s (GSAM) Multi-Manager Alternatives Fund raised $58m from interested retail investors, reported Trefis.

The fund, the first of its kind that allows the masses with $1000 to spare to invest into hedge funds that are traditionally reserved for the ultra-rich, was launched by Goldman Sachs last month, and has generated significant interest from the industry resulting in a considerable amount of assets generated since its launch, the report said.

Although the amount is nowhere near the $748bn in assets that GSAM managed at the end of Q1-13, it proved that there is a big demand for high-yield products among retail investors that are still untapped by most large fund managers. The report suggested that it would not be a surprise if other financial giants like Morgan Stanley, Bank of America, and UBS offer a similar product in the near future.

The report said, "What remains to be seen is how the market reacts to the offering over the coming months - something that will almost entirely depend on the performance of this fund. If it were to prove successful, then we should see more demand for similar funds from Goldman in the years to come - helping it amass more assets under GSAM."

In mid-May, GSAM annou......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n