is under fire from Congress and the Securities and Exchange Commission (SEC
) over a non-mutual fund product, but what about its mutual funds? The Wall Street Journal
's Brett Arends argues
that Goldman's mutual funds aren't impressive, either.
"Perhaps it's unfair of me to point this out, but over the past 10 years you would have been much better off investing in the stock of Goldman Sachs Group, Inc., than in most of its mutual funds," Arends writes. "Goldman's investors have made about 80 percent. Those in Structured Large Cap Value
, say about 16 percent."
Arends also attacks Goldman for launching the Commodity Strategy Fund
and the International Real Estate Securities Fund
near the peaks of the commodities and global real estate booms.
"For many investors, the problem with Goldman Sachs mutual funds isn't that they're a disaster," Arends writes. "Simply that they aren't a great deal. You can find better investments elsewhere."
Neil Anderson, Managing Editor
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