Tag: Goldman Sachs Asset Management

Goldman Sachs Reduces US GDP Projections Following Sen. Manchin’s Decision

December 20, 2021
build back better billBusiness & EconomyeconomyGoldman Sachs Asset ManagementinflationPoliticsSenator ManchinUS
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Goldman Sachs downgraded the country’s quarterly GDP projections for 2022, as Sen. Joe Manchin (D-W.Va.) confirmed his stance in rejecting the Build Back Better package, a move that could derail President Joe Biden’s $1.75-trillion bill. Failure to pass the bill would result in lower economic growth, according to analysts at the Wall Street firm. “We…

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BlackRock Wants Companies to Hire More Diverse Board Members, Strive Toward Net Zero Climate Goal

December 18, 2021
asset managementBlackRockBusiness & EconomyCompanieseconomic policiesGoldman Sachs Asset Managementhedge fundPolicies & ImpactsUSUS News
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BlackRock wants more diversity in company executive boards and is pushing portfolio companies to strive toward net-zero climate goals, according to a 2022 policy update released on Tuesday, even as the world’s biggest asset manager remains firmly invested in fossil fuels. “We have engaged companies on board diversity for many years. That engagement informs our…

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China’s $70 Trillion Up for Grabs: A Risk to Democracy

May 28, 2021
China’s household investable assetsGoldman Sachs Asset ManagementIndustrial and Commercial Bank of China (ICBC)OpinionSteve MnuchinThinking About ChinaViewpoints
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Commentary Western banks are hungry for access to China’s household investable assets, which will exceed $70 trillion by 2030, according to Goldman Sachs. China’s households will reportedly allocate more than half that amount to mutual funds, securities, and wealth management products. In 2020 alone, China’s broader wealth market amounted to $18.9 trillion. According to China…

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