Goldman Sachs Ranked Top Asia Broker By Investors, Paper Says
Bloomberg News
April 30, 1999, 5:32 a.m. PT
Manila, April 30 (Bloomberg) -- Goldman, Sachs & Co. is considered the best brokerage in Asia in terms of stock recommendations, quotes and the execution of trades, according to a survey of fund managers by Emerging Markets, a publication distributed at the Asian Development Bank annual meetings.
Goldman ranked top in those three categories, and second after ABN Amro Holdings NV when investors were asked ''Which bank did the best job of keeping in touch during the crisis?'' The respondents to the survey were 85 percent equity managers, 6 percent fixed-income managers and 9 percent from balanced funds.
Most -- 56 percent -- said they use between 11 and 14 banks to carry out transactions on a regular basis, the report said.
Investors have signed up to buy almost 10 times more shares than Goldman Sachs plans to sell next week in its initial public offering.
(Emerging Markets, 4/30, p.7)
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