{"id":7340,"date":"2008-03-19T00:00:00","date_gmt":"2008-03-19T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"turmoil-a-boon-for-fund-service-providers","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2008\/turmoil-a-boon-for-fund-service-providers.html","title":{"rendered":"Turmoil a boon for fund service providers"},"content":{"rendered":"<p>LUXEMBOURG (Reuters) &#8211; Goldman Sachs&#8217; asset management division posted record first-quarter results on Tuesday despite high-profile hedge fund woes and executive departures last year, but customer money poured out of some hard-hit funds. <\/p>\n<p>Asset management revenue rose 23 percent to $1.32 billion, as fund growth produced more management, incentive and other fees. The business of managing equity, debt and &quot;alternative&quot; investments produced more revenue than Goldman&#8217;s investment bankers and helped the firm exceed expectations.<\/p>\n<p>Goldman&#8217;s managed assets grew by $5 billion to a record $873 billion, as $29 billion of net new money more than offset $24 billion of market-related price declines<img loading=\"lazy\" decoding=\"async\" height=\"1\" src=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~4\/253835198\" width=\"1\" border=\"0\" \/><\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~3\/253835198\/idUKZWE87190420080318\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LUXEMBOURG (Reuters) &#8211; Goldman Sachs&#8217; asset management division posted record first-quarter results on Tuesday despite high-profile hedge fund woes and executive departures last year, but customer money poured out of some hard-hit funds. Asset management revenue rose 23 percent to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7340","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=7340"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7340\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}