Goldman Sachs Asset Management has launched the Global Multi-Asset Income Portfolio (GMAI) to retail investors in Hong Kong.
The launch follows after the fund received regulatory approval in May for it to be made available to the public.
The portfolio was incepted in 2015 and has around $88m (£66.5m, €73.7m) in assets, according to data from Morningstar.
The offering is a mixed-asset product that invests in global equities and bonds, as well as other non-traditional asset classes and it aims to provide an income stream with some possibility of capital appreciation.
“The addition of GMAI to our product offering reflects investors’ search for income as the low-yield environment is set to continue,” said Gladys Chan, head of GSAM’s retail client business in Hong Kong,
Partnership
Also, GSAM has partnered with China Citic Bank International for the first time to distribute the product and it is the first bank in the SAR to distribute the fund.
China Citic Bank’s funds platform include at least 1,500 investment funds managed by 23 asset managers.
The bank joins a growing list of retail distributors operating in Hong Kong that GSAM has partnered with, including Citibank, HSBC, DBS and Standard Chartered Bank.
In total, GSAM has made 11 strategies available to retail investors in the SAR, four of which were approved by the Securities and Futures Commission in May.
While the three funds have been made available to high net worth individuals via the private banking channel, they haven’t been launched to retail investors in the territory yet, the firm said.
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