Central States Southeast and Southwest Areas Pension Fund
Mark Angerame, Director of Finance:
"Goldman Sachs questions everything. Nothing is assumed. Nothing is status quo.
The firm continually strives to do things more efficiently and to improve performance. It
has the resources to make a difference. This became apparent during our selection process.
The firm demonstrated an ability to understand the actuarial side of our business and its
effect on the investment decision-making process. As a result, the asset allocation plan
Goldman Sachs proposed was on target and comprehensive. As we began transitioning assets
to their fiduciary control, we were impressed by their thoughtfulness, attention to detail
and communication. As we expected, they have taken an active role in overseeing asset
managers and monitoring risk. The establishment of an Investment Oversight Committee,
consisting of senior Goldman Sachs managing directors, further illustrates the firms
commitment to our business. These types of actions confirm what Goldman Sachs represented
to us during our selection process, that this is not just an engagement but, rather, a
- Goldman Sachs Asset Management has fiduciary responsibility for over $10 billion, 50
percent of Central States Funds assets.
- This was one of the largest fiduciary mandates of its kind.
- Goldman Sachs Asset Management is responsible for overall investment decisions,
including strategy, asset allocation, and external manager selection and oversight.