Goldman fund reportedly suffers big loss
Global Alpha hedge fund loses 22.7% in August - the worst monthly performance in its history, according to newspaper.
LONDON (CNNMoney.com) -- A hedge fund run by Wall Street powerhouse Goldman Sachs posted the worst monthly performance in its 12-year history in August, according to a published report.
Goldman's Global Alpha hedge fund fell 22.7 percent last month, the Wall Street Journal said, citing a letter the fund sent to investors.
The fund is down 33.4 percent so far this year and has lost 37 percent over the last 12 months, the newspaper said.
Goldman's (Charts, Fortune 500) Global Alpha fund, a so-called multi-strategy fund that trades currencies, as well as stocks and bonds, suffered losses as turmoil hit financial markets, according to the Journal.
Goldman's other funds have also run into trouble this summer. Last month Goldman injected $3 billion into its Global Equity Opportunities Fund, a so-called "quant," or computer-driven fund.
Hedge funds overall have been hard hit by the volatility in markets, losing 1.31 percent in August, according to Chicago-based industry tracker Hedge Fund Research.