Goldman Sachs Flagship Fund Falls 8%

" Goldman Sachs' $10 billion flagship hedge fund dropped nearly 8% in a week at the end of last month as hedge funds recorded their worst returns in at least four years. The GS Global Alpha fund made a loss of 7.7% before fees in the week ended July 27, taking its performance for the year to -12.1% before fees, according to an investor. That stretches its run of disappointing returns to more than 18 months, having reported a loss of 6% last year. It gained almost 40% in 2005 and its annualized return, before fees, is 15.1% since launch in 1995."