Goldman Fund Loses Nearly $1 Billion in 9 Months: Report

A Goldman Sachs hedge fund that launched in January with over $6 billion under management lost close to $1 billion by September, according to the Financial Times.

The fund, known as Goldman Sachs Investment Partners, has told investors it lost $989 million by September, the newspaper said on Monday.

Most of the fund's losses stemmed from investments in commodities, basic materials, metals, mining, energy and agriculture, the FT said.

Losses from investments in convertible bonds—debt instruments that can convert into equity—also contributed to poor returns, the newspaper said.

Goldman Sachs spokesmen could not be reached for comment.

The average hedge fund has lost roughly 19 percent so far this year, according to data from Hedge Fund Research.


  • Albert Essien, CEO of Ecobank, talks about the biggest challenges the bank faces, and investment opportunities in Africa.

  • The first round of U.S. banks stress tests show that all 31 banks have passed. John Blank, chief equity strategist at Zacks Investment Research, weighs in with his reaction.

  • All 31 banks have passed the first round of the Federal Reserve's stress tests. Cole Smead, managing director & portfolio manager at Smead Capital Management, discusses whether its time to get bullish on banks.