GSAM to Offer Pooled Stable Value Fund

June 21, 2013 ( – Goldman Sachs Asset Management (GSAM) will launch a new stable value fund designed to meet retirement plan sponsor demand for pooled stable value funds.

The company announced an agreement with Fifth Third Bank for eligible plan investors in the Fifth Third Stable Value Fund to transition to the Goldman Sachs Stable Value Collective Trust, a new stable value fund expected to be formed by The Goldman Sachs Trust Company, N.A. “The new fund enables GSAM and its affiliates to expand access to stable value solutions to an even greater number of retirement plans and their participants,” said Eric S. Lane and Timothy J. O’Neill, global co-heads of the Investment Management Division at Goldman Sachs, in a statement.

GSAM acquired Dwight Asset Management Company LLC in May 2012. The Dwight stable value portfolio management team has been advising the Fifth Third Stable Value Fund since 1998 and will be adviser with respect to the stable value contracts for the GSAM fund. The Goldman Sachs Trust Company will act as trustee for the fund, and GSAM and Dwight will be the investment advisers for the fund’s investment portfolio.

The transaction with Fifth Third is expected to close by the fourth quarter of 2013, at which time the company anticipates the launch of the Goldman Sachs Stable Value Collective Trust.