(Bloomberg) Goldman Sachs Group Inc.’s Mike Siegel, who oversees about $190 billion at the bank’s asset management arm, said insurers should consider adding to hedge fund holdings, even after such investments slumped, to help diversity portfolios comprised mostly of low-yielding bonds.
“Companies have tremendous capital, they need to find places to put it to work,” said Siegel, the head of insurance asset management, discussing results of the bank’s annual survey in the industry, dated Wednesday. “They don’t want to put it to work in any one sector.”
