According to figures seen by the Bloomberg news agency, the fund lost 1.8 per cent in the first week of September, extending the dip that led to Goldman's injection of Â£3 billion.
Meanwhile, Goldman's woes were compounded by news that its Global Alpha hedge fund dropped 22.5 per cent in August and received redemption requests to the value of $1.6 billion.
Brett Barth of BBR Partners said: "People aren't going to keep suffering losses. These funds are supposed to do well with risk management. Something has gone badly awry.''
News of the losses has prompted Goldman to defend its funds' investment strategies in a letter to investors.
It said: "We still hold our fundamental investment beliefs that sound economic investment principles coupled with a disciplined quantitative approach can provide strong uncorrelated returns over time."