Wednesday, August 8, 2007
It may have been a horrible, final week in July for the hedge funds. But Goldman Sachs is in particularly zealous damage control over reports of trouble at its Global Alpha hedge fund.
On Tuesday Goldman denied market talk that it was liquidating the fund, following reports it had fallen a total of 12 per cent in two weeks,
Earlier, says Reuters, several traders noted persistent market talk that the Global Alpha fund was being wound down, and that it was selling large amounts of stock in German car parts supplier Continental, aerospace company EADS and Italian carmaker Fiat. Goldman wasn’t commenting.