Mon, Feb 2, 2015
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. Opalesque Exclusive: Ex-Citi trader launches 'sleep-at-night’ long/short equity fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalaurMor Management in New Yor

  2. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  3. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  4. Update: Prosecutors seek 12 years for hedge fund manager Francisco Illarramendi[more]

    Komfie Manalo, Opalesque Asia: Federal prosecutors have asked the court to sentence convicted hedge fund manager Francisco Illarramendi to 12 years imprisonment for running an elaborate Ponzi scheme that bilked investors hundreds of millions in dollars, including a Venezuelan pension fund, report

  5. Institutions - Ontario pension fund leader calls all asset classes ‘expensive’, Taiwan's BLF plans $2bn in alternative mandates[more]

    Ontario pension fund leader calls all asset classes ‘expensive’ From WSJ.com: The head of one of the world’s largest pension funds said that across asset classes, “everything is expensive.” Ron Mock, who leads Canada’s $141 billion Ontario Teachers’ Pension Plan, said that the plan would