Goldman Sachs Unit, Fund Giant Join Hands

Robbie Lawther Reporter 8 February 2018

Goldman Sachs Unit, Fund Giant Join Hands

The partnership has been set up to manage Luxembourg-domiciled funds.

Goldman Sachs Fund Solutions, a business within Goldman Sachs’ securities division, is partnering with Amundi, the European asset manager which oversees more than €1.4 trillion ($1.72 trillion) of client money.

This partnership will manage Luxembourg-domiciled funds based on Goldman Sachs’ proprietary systematic strategies and to expand its alternative UCITS offering, the firms said in a statement.

Through its business line, Amundi Services, Amundi will provide investment management as well as ongoing control and oversight services to Goldman Sachs Fund Solutions.

Amundi will also provide management, due diligence and monitoring services to Goldman Sachs’ UCITS platform dedicated to external alternative fund managers. Investment management of the funds will be carried out by Amundi's structured products team. 

Goldman Sachs Fund Solutions has said that it aims to significantly increase its assets over the coming years, primarily through institutional investors and financial intermediaries.

“We believe that Amundi’s scale, independence and experience combined with Goldman Sachs’ product expertise will create a cutting edge platform to meet the needs of existing and future clients of our firms,” said Stefan Bollinger, co-head of global sales strats and structuring at Goldman Sachs' securities division.

In November, this publication reported that Amundi had launched the European Equity Multi Factor Market Neutral ETF. Amundi was created in 2010 as a joint business unit of Crédit Agricole and Societe Generale, the French banking houses. 

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