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Goldman Sachs Asset Management Profile
Goldman Sachs is one of the best
known and most respected names in the financial services
industry.
In the world of pensions
and retirement services, its asset management business
has deep roots in both large DB and DC plans.
In partnership with ADP in
1999, Goldman Sachs Asset Management (GSAM)
launched
a small and mid-market DC product, outsourcing the
record keeping and administration to the payroll giant.
Most recently, it has
squarely focused its attention as a DC Investment Only
(IO) provider while continuing to support the previously
sold ADP product.
With strong institutional
background and expertise, GSAM
is
bringing a large DB type philosophy to the advisor sold
DC market.
Institutional-like
investment vehicle include their Absolute Return
Tracker, a hedge fund replication strategy, and their
Satellite Strategy Funds bring exotic beta using
emerging market debt and high yield bonds all within ‘40
Act funds.
Their
“institutionalization” of the DC market includes helping
advisors analyze and construct menus using GSAM’s
extensive internal resources.
In addition they offer
target date funds which will be three years old in
September of 2010.
Their
more traditional funds focus on mid and large cap growth
equities, as well as large and mid cap value offered in
I, R, and A shares.
GSAM has 9
external wholesalers focused on DCIO and the VA market
supported by 6 internals and 4 platform liaisons which
team up with their 100 retail mutual fund wholesalers.
Available on most 401(k) record keeping platforms,
Goldman tries to help DC advisors by sharing their
thought leadership around economic trends and
developments in Washington,
as well as their practice management tools to help
advisors attract and retain business.
With their rich history in
helping larger DC and DB plans, their understanding of
the smaller DC markets through their partnership with
ADP and a reinvigorated focus on the advisor sold DC
market, GSAM will be a good partner to those advisors
looking to bring institutional investment philosophy to
their clients who know and respect their brand and
capabilities.
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