NEW YORK – Goldman Sachs Asset Management (“GSAM”) today announced that it has changed the name of the Goldman Sachs Core Plus Fixed Income Fund to the Goldman Sachs Bond Fund1 (“the Fund”; Class A shares: GSFAX; Class I: GSNIX). The Fund offers investors a globally diversified approach to fixed income.
“We believe the Fund name change will help existing and new investors understand how the Goldman Sachs Bond Fund can offer a core bond allocation in their portfolios, with the flexibility to invest in a broad range of global fixed income asset classes,” said Jim McNamara, Global Head of Third Party Distribution.
The Goldman Sachs Bond Fund is an enhanced approach to a core allocation with global diversification. The Fund allows investors to access opportunities outside a traditional core fixed income portfolio, while seeking to manage risk. Since its inception in 2006, the Fund has pursued a total return consisting of capital appreciation and income, exceeding the Barclays US Aggregate Bond Index benchmark.
“Successfully navigating today’s bond markets requires an understanding of the diverse sources of risk and return, and a multi-country approach to managing interest rate volatility,” said Jonathan Beinner, Chief Investment Officer of Global Fixed Income at GSAM . “We remain constructive on credit fundamentals and growth outlooks, and expect US interest rates to rise in 2015. The Goldman Sachs Bond Fund’s strategy enables it to be positioned to react to volatility and adjust to duration risk.”
Ranked #1 in US actively managed mutual fund fixed income flows (as of August 2014)2, the GSAM Fixed Income & Liquidity Management team comprises 270 members worldwide (as of June 30, 2014). With more than $469 billion in fixed income assets under supervision (as of June 30, 2014)3, the team provides investors with cost-effective product solutions, using investment processes that are research-driven and supported by active and dynamic risk management across the fixed income spectrum.
“We believe that there isn’t a single bond solution. Investors will continue to need a core allocation, but with a global approach to core fixed income,” said Michael Swell, Portfolio Manager of the Fund.
The Fund ticker symbols and investment minimums remain the same. It will continue to be offered in Class A and C shares with $1,000 minimum initial investments. Additionally, the Fund offers Institutional, Class R and Class IR Shares. The Fund is also highly rated by Morningstar in the Intermediate-Term Bond Fund category: Class I shares of the Goldman Sachs Bond Fund received 4 stars for the 3-year period and 4 stars for the 5-year period among 929 and 808 Morningstar Intermediate-Term Bond Funds, respectively (as of September 30, 2014).
Goldman Sachs Asset Management offers a number of fixed income funds with first and second quartile Morningstar category rankings (as of August 31, 2014) including short-duration, multi-sector, single sector and municipal bond funds.
GSAM is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which oversees $1.14 trillion as of June 30, 2014. Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1988 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
