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To: hobo who wrote (9847)	3/4/2001 8:45:28 PM
From: hobo	Respond to of 10876

Is this the new way to make money in Wall Street (now that the market itself is in trouble ? Goldman targets managed assets By Simon Targett, Investment Correspondent Published: March 4 2001 21:22GMT \| Last Updated: March 4 2001 22:31GMT Goldman Sachs, the US investment bank, is resolving to double its assets under management to $1,000bn (£694bn) over the next five years, under ambitious plans to build an investment management business on a par with its banking interests. The move would put it among the top global fund managers, alongside Fidelity, the Boston-based fund manager which became the first to break through the $1,000bn barrier last year. It is currently ranked outside the world's top 10. Goldman Sachs is expecting its biggest gains to come from its private wealth management operation, which targets super-rich clients with more than $10m. It is aiming at a 2per cent slice of the world's $44,000bn private wealth market by 2005. more... news.ft.com