FUND ADMINISTRATION

Goldman Sachs' Global Equity Opportunities Hedge Fund Decline Continues In September, Following On From Losses This August

According to figures seen by the Bloomberg News agency, the fund lost 1.8 percent in the first week of September. Goldman Sachs' woes were compounded by the news that its Global Alpha hedge fund dropped 22.5 percent this August and

According to figures seen by the Bloomberg News agency, the fund lost 1.8 percent in the first week of September.

Goldman Sachs' woes were compounded by the news that its Global Alpha hedge fund dropped 22.5 percent this August and received redemption requests totalling $1.6 billion.

Recent losses have prompted Goldman Sachs to defend its funds investment strategies in a letter to its investors. The letter reassures investors that "We still hold our fundamental investment beliefs that sound economic investment principles coupled with a disciplined quantative approach can provide strong uncorrelated returns over time."