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Strategies & Market Trends : Moomin Valley (formerly Troll-free Zone)

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From: RealMuLan	4/4/2007 5:08:14 PM
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Goldman's Global Alpha fund takes hit By Dina Hampton April 4, 2007 Goldman Sachs Group Inc.'s flagship hedge fund lost 5.7% in February, hurt by bad bets on stocks, global bonds and currencies, according to Bloomberg News. The loss left the $10 billion Global Alpha fund, run by Mark Carhart and Raymond Iwanowski, down 2% percent for the year through Feb. 28, according to a monthly update sent to investors. That compared with an average gain of 1.9% for hedge funds worldwide, according to data compiled by Hedge Fund Research Inc. in Chicago, reported Bloomberg. Global Alpha dropped 9% in 2006, while generating approximately $700 million in fees. That was the first annual decline in seven years and followed an almost 40% percent gain in 2005, according to the report. Global Alpha took a hit on wrong-way bets that the Norwegian krone and Japanese yen would decline, said the report. investmentnews.com

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