Goldman Makes a Trio of New Offerings

Goldman Sachs Asset Management yesterday unveiled two funds today: a managed futures fund and a short duration income fund. These launches follow the launch of a rising dividend growth fund on Monday.

The Goldman Sachs Managed Futures Strategy Fund (Class A Shares: GMSAX), will identify price trends in various asset classes over short-, medium-, and long-term horizons via a proprietary investment model, according to a Securities and Exchange Commission filing. To do this, the fund will play in a wide variety of assets including equities, fixed-income and currency assets. It will also include many derivatives, such as equity index futures, bond futures, equity and interest-rate swaps, currency forwards and options.

The fund will be managed by William Fall, co-chief investment officer of Goldman’s Quantitative Investment Strategies team, and Steve Jeneste. It will charge 100 basis points for its management fee.

“Our analysis and research reveal that performance in a wide variety of markets tends to continue and exhibit patterns that are both predictable and exploitable,” said Fallon in a statement.

Meanwhile, the Goldman Sachs Short Duration Income Fund (Class A Shares: GDIAX) will apply short duration strategies in a number of sectors, including corporate bonds, mortgage- and asset-backed securities, and government securities, to seek total return. According to an SEC filing, the fund will invest, under normal circumstances, at least 80% of its net assets in U.S. or foreign fixed income securities.

 It will be managed by David Fishman and James McCarthy and will charge 40 basis points.

 “Faced with volatile markets and low US interest rates, investors are looking to maximize income from their fixed income portfolios while minimizing interest rate risk,” said Fishman.

On Monday, the firm also launched the Goldman Sachs Rising Dividend Growth Fund (Class A Shares: GSRAX) following the completion of the acquisition of the mutual fund management business of Dividend Assets Capital, LLC (formerly Dividend Growth Advisors, LLC). The new offering broadens the firm’s mutual fund platform to include a rising dividend equity strategy.

According to a SEC filing, the fund will invest at least 80% of its net assets in equity investments of dividend-paying U.S. and foreign companies with market capitalizations of at least $500 million. The fund will be managed by a team led by Thomas Cameron and charge 75 basis points.