http://www.cnbc.com/2016/07/04/goldman-sachs-tells-its-asset-managers-to-tighten-belts.html
Goldman Sachs has told staff at its asset management division GSAM to
tighten their belts, amid outflows and poor performance from some of its
largest funds... The malaise reflects wider pressures on the industry,
where actively managed funds are losing market share to low-cost index
trackers. It also complicates Goldman's efforts to build a larger asset
management business to balance its traditional investment banking and
trading arms, where profitability is being squeezed.''
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