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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: Paul Kern	8/16/2007 6:49:54 AM
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Goldman Sachs Cuts Fees To Global Equity Hedge Fund-Report Last update: 8/16/2007 3:43:44 AM NEW YORK (Dow Jones)--Goldman Sachs Group Inc. (GS) waived fees to draw investors to its Global Equity Opportunities hedge fund after stock-market losses wiped out $1.4 billion of assets this month, according to a person with direct knowledge of the terms, The Los Angeles Times reported in its Thursday editions. The new investors won't pay Goldman's annual management fee, which is 2% of assets, and Goldman will halve its share of the fund's profit, the source told Bloomberg News. Investors who already had holdings in the fund can get the new terms for any additional money they commit to investing by Friday. The paper reported that to get the new terms, however, investors must commit to keeping their money in the fund for six months. Global Equity's existing investors can withdraw their money monthly with 15 days' notice. Newspaper Web Site: latimes.com (END) Dow Jones Newswires August 16, 2007 03:43 ET (07:43 GMT)

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