Wirehouses

Updated Sunday, May 19, 2013 as of 10:40 PM ET

Wirehouses

Goldman Joins Bulge Brackets Offering Retail Alt Funds

To bring alternative investments to a wider investor base,�Goldman Sachs Asset Management(GSAM) has launched the�Goldman Sachs Multi-Manager Alternatives Fund�(GMAMX, GMCMX, GSMMX, GIMMX, GRMMX), which offers exposure to a range of alternative and non-traditional investment strategies within the structure of a mutual fund.

The fund expects to invest in a wide range of strategies, including equity long-short, dynamic equity, event-driven and credit, relative value, tactical-trading, and opportunistic fixed income strategies.

MME�reported last month that the firm disclosed in a filing that the fund will employ�Ares Capital Management,�Brigade Capital Management,�GAM International Management Limited,�Karsch Capital Management�and�Lateef Investment Management�as sub-advisors.

Annual fund operating expenses run the gamut of 215 basis points for Institutional shares to 330 bps for Class C shares, according to the filing.

Earlier this week,�MME�reported that�Morgan Stanley�announced that its Alternative Investment Partners (AIP) group had rolled out the�AIP Dynamic Alternative Strategies Fund, its first mutual fund.

Co-portfolio managers for Goldman Sachs fund,�Jason Gottlieb�and�Ryan Roderick, sit within GSAM�s Alternative Investments & Manager Selection (AIMS) group. AIMS manages over $120 billion of client assets for sovereign wealth funds, pension plans, governments, financial institutions, endowments, foundations and family offices.

More in Wirehouses

see all

Wall Street Wins Rollback in Dodd-Frank Swap-Trading Rules

JPMorgan Chase & Co., Goldman Sachs Group Inc. and the world's largest banks won rollbacks in final Dodd-Frank Act rules that promise to transform the private swaps market by increasing competition. more »

Krawcheck to Acquire 85 Broads From Former Goldman Executive

Sallie Krawcheck, the former senior executive at Bank of America Corp. and Citigroup Inc., agreed to buy 85 Broads, the global network with 30,000 members that promotes women as business leaders. more »

Wall Street Internships Offer NFL Players Option When Game Ends

Thomas Welch knows there’s a better chance he will be fired than retire. So he spent his vacation interning at Merrill Lynch Wealth Management to prepare for a second career to sustain him for the next 40 years. more »

Brokers Go Gray as Youth Stays Away

Breaking into the brokerage business is getting tougher as declining fees make small accounts less profitable and government restrictions on unsolicited calls make phone sales taboo. That’s leaving big firms struggling to replace a retiring generation of advisors. more »

Goldman Gets Real About Returns

Goldman Sachs has filed to launch the Multi Asset Real Return Fund. The fund seeks real return by investing in inflation-sensitive assets. more »

Goldman Sachs Investors Should Oppose Pay Plan, Glass Lewis Says

Goldman Sachs has been “deficient” in linking compensation to company performance, Glass Lewis said in a report, which also opposed the re-election of compensation committee Chairman James A. Johnson. ISS said in a May 8 report that shareholders should vote for Johnson at the New York-based bank’s May 23 annual meeting. more »

Morgan Stanley Expands Debt Purchases as Brokerage Adds Deposits

Morgan Stanley is expanding the types of debt it buys as deposits increase with the purchase of its brokerage venture and interest rates remain near record lows. more »

Morgan Stanley Nabs 2 Advisors

The new hires join the firm in Jackson, Tenn., and Mount Kisco, N.Y. more »

Merrill Lynch Names Chhabra to Chief Investment Officer Role

Merrill Lynch Wealth Management has tapped Ashvin Chhabra to serve as chief investment officer and head of Investment Management and Guidance. more »

Credit Suisse Sues Former Executive Who Left for Goldman Sachs

Credit Suisse Group AG sued its former vice president of emerging markets, Agostina Pechi, over claims she stole the bank’s trade secrets in a bid to win clients for her new employer, Goldman Sachs Group Inc. more »

UBS to Vacate Most of Space at Park Avenue Office Tower

UBS plans to move out of almost three-quarters of the space it rents at Manhattan’s 299 Park Ave. as it seeks to reduce real estate costs, but the company intends to keep some wealth-management operations in place while moving its investment-banking department to another location. more »

UBS Looks at All Investor Input on Knight Vinke Proposal

UBS AG is always looking at all shareholder suggestions, Chief Executive Officer Sergio Ermotti said, after investor Knight Vinke Asset Management LLC called for a spinoff of the lender’s investment bank. more »

UBS Names New Head of Private Wealth Management

UBS promotes regional director John Mathews to help capture growth in the ultrahigh-net-worth market. more »

AdvisorTV