February 29, 2012
NEW YORK, February 29, 2012 – Goldman Sachs Asset Management, L.P. (GSAM) today announced the launch of the Goldman Sachs Managed Futures Strategy Fund (Class A Shares: GMSAX). The Fund provides investors with an opportunity to invest in a wide range of globally diversified asset classes that GSAM believes can potentially generate absolute returns and reduce risk during prolonged market declines.
“Managed futures strategies have historically provided a diversifying pattern of returns that behave differently than most traditional asset classes and alternative investment strategies. This diversification offers the potential to reduce portfolio risk and increase return, including the potential to offer strong performance in extreme up or down markets,” said Glen Casey, Managing Director and Head of Product Strategy and Development at GSAM.
“Our analysis and research reveal that performance in a wide variety of markets tends to continue and exhibit patterns that are both predictable and exploitable,” added William Fallon, Portfolio Manager of the Fund and Co-CIO of the Goldman Sachs Quantitative Investment Strategies (QIS) team. “The Goldman Sachs Managed Futures Strategy Fund seeks to identify price trends early, and potentially profit from them by taking long or short positions in a wide range of asset classes, including equities, fixed income and currencies.”
Fallon and the QIS team will draw on more than 20 years of investing experience to seek to generate attractive risk-adjusted returns from market trends. The team employs 11 PhDs and 16 CFA charter holders with extensive academic and practitioner experience. With over 60 professionals dedicated to portfolio management and research, the QIS team oversees more than $47 billion in assets as of December 31, 2011.
This launch builds on GSAM’s commitment to bringing alternative strategies in daily liquid funds to investors. In 2008, GSAM introduced the first 1940 Act hedge fund replication fund, the Goldman Sachs Absolute Return Tracker Fund, to retail investors in the US.
The Fund is offered in Class A and Class C Shares, both with $1,000 minimum initial investments. The Fund also offers Institutional, Class R and Class IR Shares.
Goldman Sachs Asset Management is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which manages $821 billion as of December 31, 2011. 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.
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Andrea Raphael Tel: 212-357-0025
Jason Weinzimer Tel: 212-445-8245
The Goldman Sachs Managed Futures Strategy Fund implements a trend-following strategy that takes long and/or short positions in a wide range of asset classes, including equities, fixed income and currencies to seek long-term absolute return. The Fund’s investments in fixed income securities are subject to the risks associated with debt securities generally, including credit/default, liquidity, interest rate, call, and extension risk. The Fund’s equity investments are subject to market risk, which means that the value of its investments may go up or down in response to the prospects of individual companies, particular industry sectors and/or general economic conditions. Foreign and emerging market securities may be more volatile and less liquid than investments in U.S. securities and will be subject to the risks of currency fluctuation and adverse economic or political developments. To the extent that the Fund gains exposure to the commodities markets, such exposure may subject the Fund to greater volatility than investments in traditional securities. Derivative investments may involve a high degree of financial risk. These risks include the risk that a small movement in the price of the underlying security or benchmark may result in a disproportionately large movement, unfavorable or favorable, in the price of the derivative instrument; risk of default by a counterparty; and liquidity risk. At times, the Fund may be unable to sell certain of its investments without a substantial drop in price, if at all. The Fund’s over-the-counter transactions are subject to less government regulation and supervision. The Fund’s borrowing and use of derivatives may result in leverage, which can make the Fund more volatile. The Fund is “non-diversified” and may invest more of its assets in fewer issuers than “diversified” funds. Accordingly, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio and to greater losses resulting from these developments.
The portfolio risk management process includes an effort to monitor and manage risk, but does not imply low risk.
The summary prospectus and prospectus for the fund containing more information may be obtained from your financial advisor. Please consider the fund’s objectives, risks, charges and expenses, and read the summary prospectus and/or the prospectus carefully before investing. The summary prospectus and the prospectus contain this and other information about the fund. To learn more, visit www.gsam.com.
Goldman, Sachs & Co. is distributor of the Goldman Sachs Funds.
Opinions expressed are current opinions as of the date appearing in this material only. No part of this material may, without GSAM’s prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.
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