Goldman Sachs launches alternatives fund

Goldman Sachs Asset Management has launched a long-short equity UCITs fund.

Managed by Raanan Agus and Kenneth Eberts, who are co-heads of the Goldman Sachs Investment Strategies portfolio, the fund will invest in stocks while aiming to reduce correlation and limit on the downside. 

The fund launch is part of Goldman’s expansion of products to the retail market outside of the US. 

“For the first time, we are bringing the expertise and proven track record our team has delivered to institutional and qualified high net worth investors to a retail investing client base outside the US,” says Nick Phillips, head of international third-party distribution for Goldman Sachs Asset Management.

Agus and Eberts say they will look for companies that have catalysts for change, due to changes in consumer behaviour, markets or industries. 

“We strive to build a portfolio with low directional exposure to equity markets and the flexibility and nimbleness to generate attractive performance in any market environment,” the managers add.

The fund has a 1 per cent management fee and a 20 per cent performance fee based on net performance over the three-month Libor.