NEW YORK, NY January 5, 2015 – Goldman Sachs Asset Management (“GSAM”) today announced it has reduced fees for the Goldman Sachs Core Fixed Income Fund (Class A shares: GCFIX; Institutional shares: GSFIX) and the Goldman Sachs Bond Fund (Class A shares: GSFAX; Institutional shares: GSNIX).
The Goldman Sachs Core Fixed Income Fund reduced the total annual fund operating expense ratio (after expense limitation) for Class A shares from 0.83% to 0.78% and for Institutional shares from 0.49% to 0.44%.2 For the Goldman Sachs Bond Fund, the total annual fund operating expense ratio (after fee waiver and expense limitation) for Class A shares decreased from 0.84% to 0.79% and for Institutional shares from 0.50% to 0.45%.3
“With GSAM’s ongoing efforts to bring top performing bond mutual funds to the market, we have revised our pricing structure to be even more competitive with the industry,” said James McNamara, Global Head of Third Party Distribution, GSAM. “Our goal is to provide compelling investment solutions to a broad investing audience looking for top quality fixed income expertise, including individuals, their advisors and plan sponsors.”
The Goldman Sachs Core Fixed Income Fund, which seeks a total return consisting of capital appreciation and income that exceeds the total return of the Barclays U.S. Aggregate Bond Index, invests primarily in U.S. government securities and investment grade corporates. The Goldman Sachs Bond Fund, which seeks a total return consisting of capital appreciation and income that exceeds the total return of the Barclays U.S. Aggregate Bond Index, invests primarily in traditional and non-traditional fixed income sectors. The Goldman Sachs Bond Fund recently underwent a name change to emphasize the Fund’s role as a core bond allocation. Both Funds are managed by Jonathan Beinner and Michael Swell.
Ranked #1 in US actively managed mutual fund fixed income flows (as of September 2014)4, the GSAM Fixed Income & Liquidity Management team comprises 290 members worldwide (as of September 30, 2014). Managing more than $468 billion in fixed income assets under supervision (as of September 30, 2014)5, the team seeks to provide 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.6
GSAM is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which supervises $1.15 trillion as of September 30, 2014. GSAM 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.
