I can think of no good reason for Goldman Sachs to launch a product like the Absolute Return Tracker (ART). They already have a fairly successful internal hedge fund operation, even if Global Alpha did get eviscerated recently. But this smacks of being a pure market share grab. I don't know, maybe to me it seems like they are imitating the wrong bank. I mean, because Merrill created a similar product means that Goldman has to do the same?
I guess this really means that the bloom is off the rose for hedge funds. It was bound to happen, right? Everybody and their grandmother runs a hedge fund nowadays. YOU too can invest in one. (And unbeknownest to you, you may just be doing that. Which is fine until it isn't.)
I wonder how far back the data will go that they get from this third party? And whether any of said historical data is coming out of the remains of PlusFunds, via the Refco implosion? (WSJ.com subscription req'd)