Goldman Sachs Asset Management added to stocks portfolio as markets tumbled

By Elizabeth Dilts Marshall (Reuters) - Portfolio managers at Goldman Sachs Asset Management have used the recent selloff in global stocks caused by the coronavirus as an opportunity to take positions in a range of companies focusing on everything from concerts to cosmetics. As stocks tumbled to their worst weekly performance since the financial crisis, the firm's $60 billion portfolios bought shares of Japanese cosmetics-maker Shiseido Co Ltd and events promoter Live Nation Entertainment , as well as companies in the travel and hotel sector, Katie Koch, Goldman Sachs' global co-head of equities for its asset management business, said in an interview with Reuters. "We recognize the seriousness (of the coronavirus concerns), and we would never celebrate a sell off of this magnitude," she said

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