Goldman Sachs Asset Management has launched the Goldman Sachs World Bond Fund (GWRAX)—a core bond strategy that bets on fixed income securities and currencies across the developed and emerging markets.
The fund is benchmarked to the recently launched Barclays Global Sovereign Fiscal Strength Index. It is managed by Iain Lindsay and Hugh Briscoe and charges a management fee of 65 basis points.
“Interest rates in developed countries are being held down by central banks in an attempt to generate economic growth,” stated Jonathan Beinner, co-head of GSAM Global Fixed Income and Liquidity Management and Chief Investment Officer.
“This has led to negative real yields in developed government bond markets and increased risk of currency depreciation. Recent events have also exposed weaknesses in developed markets. These developments are driving investor appetite for core fixed income products that offer global exposure and combine higher yield and currency appreciation with lower volatility.”
GSAM managed $854 billion as of December 31, 2012.