Thursday, May 16, 2013

Goldman Offers Hedge Funds to the 99%

From the Street: Goldman Sachs said Thursday it is bringing the sophisticated trading strategies of Wall Street hedge funds to individual investors with investment portfolio's and retirement accounts as small as $1000.

The bank's investment management unit, Goldman Sachs Asset Management, is launching its Goldman Sachs Multi-Manager Alternatives Fund, which will give ordinary investors the ability to put their savings and retirements in Wall Street's riskiest products such as convertible bonds, junk bonds, bank loans, mortgage backed securities, credit default swaps, structured products, swaptions, total return swaps, swaps on futures, variance swaps and contracts for difference, among other arcane financial instruments.

Notably, the Goldman fund will give ordinary investors a taste of Wall Street trading by allocating assets to actual hedge fund managers, who appear to have the discretion to invest in just about every market and in any way which they chose to….

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