The Monetary Authority of Singapore has given Goldman Sachs Asset Management (GSAM) approval to sell four products to retail investors in the Lion City.
The offerings are a diverse group, and include the Goldman Sachs (GS) Emerging Markets Equity ESG Portfolio, the GS Global Millennials Equity Portfolio, the GS Global Real Estate Equity Portfolio and the GS Absolute Return Tracker Portfolio.
Goldman applied to the MAS for authorisation to sell the products to retail investors in December last year.
Previously, the funds were only available to accredited private banking and institutional investors, and they remain unauthorised by the Securities and Futures Commission for sale to Hong Kong retail investors.
Diversification
“The latest additions will provide [retail] investors [in Singapore] access to thematic equity funds and alternatives which will offer diversification benefits amidst global market volatility and changing investment trends,” said Jessica Jones, head of GSAM’s Asia Pacific ex-Japan retail client business.
GSAM’s total number of retail-registered funds in Singapore is now 22, which include developed and emerging market equity products across a range of capitalisations, sectors and geographies, and also fixed income products with different credit quality mandates, as well as multi-asset funds.
Among the new fund launches, Kathryn Koch, co-head of fundamental equity at GSAM, highlighted the ESG and Millennial products.
“We believe integrating material ESG factors into an investment decision making process is a crucial driver of better long term risk-adjusted returns. This is especially true across emerging markets, where information and disclosure is still limited,” she said.
GSAM told International Adviser that the funds will be available to intermediaries.
For more insight on asset and wealth management in Asia, please click on www.fundselectorasia.com
