Updated Wednesday, May 22, 2013 as of 8:42 AM ET
Goldman Joins Bulge Brackets Offering Retail Alt Funds

To bring alternative investments to a wider investor base, Goldman Sachs Asset Management(GSAM) has launched the Goldman Sachs Multi-Manager Alternatives Fund (GMAMX, GMCMX, GSMMX, GIMMX, GRMMX), which offers exposure to a range of alternative and non-traditional investment strategies within the structure of a mutual fund.

The fund expects to invest in a wide range of strategies, including equity long-short, dynamic equity, event-driven and credit, relative value, tactical-trading, and opportunistic fixed income strategies.

MME reported last month that the firm disclosed in a filing that the fund will employ Ares Capital Management, Brigade Capital Management, GAM International Management Limited, Karsch Capital Management and Lateef Investment Management as sub-advisors.

Annual fund operating expenses run the gamut of 215 basis points for Institutional shares to 330 bps for Class C shares, according to the filing.

Earlier this week, MME reported that Morgan Stanley announced that its Alternative Investment Partners (AIP) group had rolled out the AIP Dynamic Alternative Strategies Fund, its first mutual fund.

Co-portfolio managers for Goldman Sachs fund, Jason Gottlieb and Ryan Roderick, sit within GSAM’s Alternative Investments & Manager Selection (AIMS) group. AIMS manages over $120 billion of client assets for sovereign wealth funds, pension plans, governments, financial institutions, endowments, foundations and family offices.

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More in Mutual Funds
While April inflows for long-term mutual funds stood at a healthy $37.8 billion, they continued to moderate from levels seen earlier this year, according to Morningstar. more »
Stock and bond funds, including exchange traded funds, maintained a strong pace of net inflows in April, according to fund industry researcher Strategic Insight (SI). more »
Fidelity Investments has rolled out a target volatility strategy, the Fidelity VIP Target Volatility Portfolio. The portfolio seeks to manage total return volatility within a target range. more »
Independent broker-dealers and RIAs have the edge over wirehouses when it comes to adding mutual fund assets under management, according to Access Data and Strategic Insight. more »
Tax season has come and gone, yet the run of outflows from municipal bond mutual funds dragged into its ninth straight week, at $391 million. more »
Vanguard said Monday that it cut the expense ratios on several of its bond mutual funds and ETFs in April. These include three of its popular bond ETFs: the Long-Term Bond Index Fund (BLV), the Intermediate-Term Bond Index Fund (BIV) and the Short Term Bond Index Fund (BSV). Each fund saw its price tag change from 11 bps to 10 bps. more »
The boutique purveyors of the mutual fund world have different branding and distribution challenges than their larger asset management counterparts. more »
Total estimated inflows to long-term mutual funds were $3.66 billion for the week ended Wednesday, April 17, according to the Investment Company Institute. more »
During the week ended April 17, investors steered a paltry $3.66 billion into the funds, making it their most dismal week this year. more »
Janus Capital Group Inc., owner of the Janus, Intech and Perkins funds, said first-quarter earnings rose 24% as stock market gains helped boost assets. more »
U.S. mutual funds and exchange-traded funds, excluding money-market funds, pulled $6.5 billion in net inflows in the week ended April 17, according to Lipper. more »
Total estimated inflows to long-term mutual funds were $4.83 billion for the week ended Wednesday, April 10, according to the Investment Company Institute. more »
BMO Asset Management U.S. is furthering its reach into the retirement market. more »
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