Goldman Sachs Props Own Money-Market Funds After Withdrawals
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Goldman Sachs Group Inc. pumped more than $1 billion into two of its prime money-market portfolios as investors pulled funds during one of Wall Street’s most volatile weeks.
The bank bought $722.4 million in assets from its Goldman Sachs Financial Square Money Market Fund last week and another $301.2 million from its Goldman Sachs Financial Square Prime Obligations Fund, according to two filings with the Securities and Exchange Commission late Friday. Combined net withdrawals exceeded $8 billion.