Goldman Sachs AM to close fixed income fund
Goldman Sachs Asset Management is closing one of its fixed income funds due to its dwindling size.
The asset management firm has decided to shut the $19 million (£14.7 million) Sterling Broad Fixed Income portfolio. Wealth Manager understands the fund was no longer considered economically viable.
Investors are being offered redemptions or will be given the option to switch into another fund of their choice free of charge.
A spokesperson for GSAM confirmed the closure.
The fund has returned 21.8% over three years to 31 March 2016, versus a Sterling Strategic Bond sector average return of 15.4%. Over one year it is up 7.5% compared to the sector average of 8%.
GSAM has over $1 trillion in assets under management globally.
Source: City Wire
