A news release said it is a portfolio of non-investment grade floating-rate loans and other variable-rate securities issued by U.S. and foreign companies. The fund’s investment objective is to seek a high level of current income.
GSAM’s Global Corporate Credit team, part of GSAM’s Global Fixed Income team, will manage the fund. The Global Corporate Credit team will employ research and risk management capabilities and incorporate the best investment ideas across the senior bank loan market.
With more than 40 investment professionals, the Global Corporate Credit team oversees $81.7 billion in credit assets as of December 31, 2010. The Global Fixed Income team, which oversees $299.6 billion in assets as of December 31, 2010, has more than 200 investment professionals located across the globe.
The fund is offered in Class A and Class C shares, both with $1,000 minimum initial investments. The Fund also offers Institutional and Class R & Class IR Shares.