Goldman said considering exiting Australian investment business

Goldman Sachs Asset Management is considering exiting its Australian investment business, according to a document detailing the plans.

Bloomberg News reports that the fund manager, which oversees about A$9 billion ($6.6 billion) in Australia, is reviewing options including a sale or a management buyout, according to a person familiar with the talks, who asked not to be identified because the discussions are private. The business includes equities and fixed income with a staff of about 40. The Australian equities team is led by Dion Hershan in Melbourne. Hayley Morris, a spokeswoman for Goldman Sachs in Australia, declined to comment.

Goldman Sachs Asset’s Australian equities wholesale fund returned 5.8 percent a year in the five years through the end of March, ranking 151st of more than 450 funds tracked by Morningstar.

Hit the link below to access the complete Bloomberg News article:

Goldman Said to Consider Aussie Asset Management Unit Sale

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