Goldman promoting cash product to Asian treasurers

The fund manager says companies and financial institutions can do better than letting their cash sit in a bank.

Last week Goldman Sachs Asset Management executives from the United States toured Hong Kong and Singapore to promote the firm's cash management and 'enhanced' cash management products to treasurers at Asian companies and financial institutions.

The firm is stepping up its wooing of Asian clients. Elizabeth Anderson, managing director of the asset management division in New York, says Asian clients are a small part of the firm's $110 billion of managed cash assets. Most of the Asian clientele consists of high-net worth individuals. While rich individuals may put cash into a range of currencies, such as the euro or sterling, to enhance returns, most corporate and financial group demand is for dollars, as...

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