(Bloomberg) — Goldman Sachs Group Inc. asset managers cut borrowing for two energy funds, which saw their top holdings fall by one-third in two days amid “unprecedented” volatility in commodity prices, resulting in a “material impact” on their net asset value.The bank has decided to “effectively eliminate the net leverage” of its MLP Income Opportunities Fund and MLP and Energy Renaissance Fund, its asset management arm said in separate statements. The funds had combined assets of about $590 million at the end of January, mainly in master limited partnerships that operate U.S. oil and gas pipelines and terminals, according to …read more
Source:: Yahoo Finance
