GSAM launches multi-asset fund with absolute return focus

multi asset2Goldman Sachs Asset Management (GSAM) has launched a fund into the multi-asset universe, one of the most popular areas for asset managers at present.

The Goldman Sachs Global Absolute Return Portfolio is part of GSAM’s Luxembourg Ucits vehicle and is aimed at retail and institutional investors.

A total of 163 mixed asset funds were launched in Europe in the second quarter, according to Lipper figures this week. The figure beats the number of equity and bond launches, and mixed asset funds currently have the second largest market share (26%), after equities, of funds registered for sale in Europe.

GSAM’s fund seeks to generate “consistent, attractive returns that are less dependent on the direction of traditional markets”.

It invests across multiple asset classes using investment ideas from across GSAM with a dynamic asset allocation approach.

“We aim to achieve consistent, attractive returns in all market conditions within a Ucits framework,” says Neill Nuttall, the fund’s co-portfolio manager, adding that GSAM expects significantly lower returns on traditional investments going forward.

GSAM’s global portfolio solutions group manages the fund. The group currently manages over £22 billion (€30 billion) of assets.

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