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Products June 10, 2008
New Goldman Sachs Fund Gives Hedge Fund-like Benefits
June 10, 2008 (PLANSPONSOR.com) - Goldman Sachs
Asset Management (GSAM) has launched the Goldman Sachs
Absolute Return Tracker (ART) Fund (Class A:
GARTX).
Reported by Rebecca Moore
According to a press release, the Goldman Sachs ART Fund seeks to achieve results that approximate the return of the Goldman Sachs ART Index, which reflects the returns of a basket of long and short investable market factors determined by an algorithm to track patterns of returns of hedge funds as a broad asset class. GSAM created the mutual fund to give U.S. individual investors access to the returns of the Index.
Previously, the only way U.S. investors could gain exposure the GS-ART Index was through a structured note or swap, the company explained in the release. The new fund gives individual investors the opportunity to benefit from the potential investment advantages of a hedge fund-like strategy, but with the daily liquidity, daily pricing, and periodic portfolio transparency provided by mutual funds.
The Goldman Sachs ART Fund is offered in A and C shares, both with a $1,000 minimum investment. The fund also offers Institutional and R & IR Class Shares.
For more information, visit www.goldmansachsfunds.com .