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Goldman Sachs Asset Management May Exit Australia Equities Business

Goldman Sachs Asset Management May Exit Australia Equities Business

Goldman Sachs Asset Management is considering the sale of its Australian equities and fixed income businesses. Goldman’s Australian fund management business overseas about A$9 billion. If it goes ahead with a sale, Goldman will be following in the footsteps of Swiss bank UBS which offloaded its private bank in Australia last year after a review of its underperforming businesses.

“Goldman will be following in the footsteps of Swiss bank UBS which offloaded its private bank in Australia last year after a review of its underperforming businesses.”

~ Reuters

It also would not be the first sale of this kind for Goldman Sachs in Asia. Last year, it sold its Indian fund management unit for $37.5 million.

Related Reports: Reuters, Bloomberg

 

 

About Goldman Sachs Asset Management

Our investment solutions include fixed income, money markets, public equity, commodities, hedge funds, private equity, and real estate. Our clients access these solutions through our proprietary strategies, strategic partnerships, and our open-architecture programs. Our investment teams represent over 800 investment professionals, capitalizing on the market insights, risk management expertise, and technology of Goldman Sachs. We help our clients navigate today’s dynamic markets, and identify the opportunities that shape their portfolios and long-term investment goals. We extend these global capabilities to the world’s leading pension plans, sovereign wealth funds, central banks, insurance companies, financial institutions, endowments, foundations, individuals and family offices, for which we invest or advise more than $1 trillion of assets.

Visit: Goldman Sachs Asset Management




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