For many investors, the issues were global. Goldman Sachs Asset Management leveraged its worldwide team of investment professionals to provide portfolio management expertise, timely investment research, detailed portfolio analytics and risk management resources to help our clients address their concerns.

This level of client commitment contributed both to significant mandates from new clients and to additional assets from certain existing clients. As a result, despite significant market depreciation, Goldman Sachs ended the year with approximately the same level of assets under management as the prior year, at $348 billion.