Goldman’s asset management unit ups positions in hotel, cruise line stocks

NEW YORK (Reuters) – Goldman Sachs Group Inc’s asset management unit has added to positions in travel stocks, including hotels and cruise lines, as well as Live Nation Entertainment Inc and Japanese cosmetics company Shiseido Co Ltd, executives said Friday.

Katie Koch, Goldman Sachs’ global co-head of equities for its asset management business, said the division has seen “strong net inflows into our active portfolios from clients globally” this week.”

We recognize the seriousness (of the coronavirus concerns), and we would never celebrate a sell off of this magnitude,” said Koch. “But this dislocation provides active managers a great opportunity.”

(Reporting by Elizabeth Dilts Marshall; Editing by Sandra Maler)