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To: Giordano Bruno who wrote (340665)	8/12/2007 12:13:22 AM
From: Secret_Agent_Man	Respond to of 436258

Goldman hedge fund reportedly hit hard By Shawn Langlois, MarketWatch Last Update: 12:17 PM ET Aug 11, 2007 SAN FRANCISCO (MarketWatch) -- Goldman Sachs Group's $8 billion Global Alpha hedge fund has fallen 26% so far this year, a retreat that could lead skittish investors to cash out, according to a Friday report citing unnamed sources. Goldman's biggest hedge fund has shed almost 40% since July 31, 2006 while the Standard & Poor's 500 Index has risen 16%, Bloomberg reported. The fund's decline has eaten away at fees paid to Goldman (GS : 180.50, -1.75, -1.0% ) , which pocketed $700 million from the fund after its 40% surge in 2005. The poor performance could prompt redemptions. Withdrawals for the fund's $6.2 billion offshore version came to $394 million in June, an unidentified investor told Bloomberg. That was almost triple the $142 million that flowed into the fund. There is an August 15 deadline for Global Alpha investors who want to cash out, according to the report. This is the latest evidence of a near $2-trillion industry in turmoil. Two hedge funds run by investment bank Bear Stearns (BSC : 110.20, -3.85, -3.4% ) were almost completely wiped out earlier this year after losing more than $1 billion, partly from leveraged subprime mortgage bets that went awry. Several other funds have been slammed by the ensuing credit markets crisis. marketwatch.com