Prajna Capital - An Investment Guide

GOLDMAN Sachs Asset Management Company India has deferred its plans to set up mutual fund operations in India, on account of unfavourable market conditions. According to people familiar with the development, the wholly-owned arm of the Goldman Sachs group is unlikely to launch mutual fund operations here at least in the next year or so. This has been conveyed to the employees who were roped in for the proposed mutual fund, and has resulted in several staff members heading for the exit. Goldman Sachs officials declined to comment on the matter. Goldman has recalled its chief executive officer for the venture, Adam Broder, who had shifted base to Mumbai last year for the assignment. Its chief investment officer is believed to be moving back to Hong Kong to take up his previous assignment of managing portfolios of private clients. Top officials at other mutual funds confirmed that they have received a number of enquiries for jobs from the staff of Goldman AMC, recently. The co...

Year 2008 has been an action packed one in all respects. It started off with stock market correction in mid January, later it turned out to be a bear market and eroded Billons of dollars of investor money. By then sleeping giant was awaken, the sub prime. It had cascading effect all walks of the economy only in US nut all across the world. Then came the big investment bank failures. Fed has to Bail out leading mortgage lenders of the country Fannie Me, Freddie Mac. But, worst was yet to come, Lemon Brothers, a hundred year old investment bank went bankrupt. It was the situation with Merrill Lynch and Morgan Stanley as well. Goldman Sachs was also taken a beating but was slightly better off. Merrill Lynch was acquired by Bank of America. Wachovia acquired by Wells Fargo, Washington Mutual (WaMu ) acquired by JP Morgan. Both Goldman and Morgan were converted to conventional banks. Meanwhile, Warren Buffet, greatest investor that the world has seen also showed confidence in Goldman. On th...

Goldman Sachs Asset Management L.P. ( GSAM ), has received regulatory approval from the Securities and Exchange Board of India (SEBI) to start a wholly-owned asset management and mutual fund business in India. The senior management team appointed to spearhead the asset management operations of Goldman Sachs Asset Management in India is led by Mr. Adam Broder as Chief Executive Officer and Mr. Prashant Khemka as Chief Investment Officer. Mr. Khemka said, “It is our goal to emerge as a world class asset manager in India, by drawing synergies from our global expertise and combining them with our proven risk management techniques to deliver strong and consistent results for our investing clients. India is amongst the fastest growing economies in the world, with a robust and growing savings and investment pool.” Added Mr. Broder, “We are delighted to have received the Mutual Fund approval from SEBI so promptly. India is one of the most important countries to our Asian business and we have a...