It's not looking good for Goldman Sachs's Global Alpha fund.
Despite rumors that the investment bank would wind up the ailing quantitative fund, Goldman Sachs continues to stand by its unit. It was widely reported in the media on Thursday that Global Alpha, a mega $9 billion hedge fund in Goldman's asset management group, was down 16% for the year.
Unlike the typical hedge fund, Global Alpha is a quantitative fund, meaning that its trades are determined by computers and convoluted mathematical models. Some quant funds are completely computer dictated, while others spew out investment options for a human trader to veto or accept.
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