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Tuesday, October 22, 2013

Why is Jim McNamara Smiling?

Reported by Tommy Fernandez

If you look at Morningstar's flows data for September, you'll notice something interesting.

Goldman Sachs [profile] ranked second in flows for the month at just over $2 billion. It also achieved number 1 in fixed income for September and the quarter.

Not too shabby. So, how did they do it.

Here's how Jim McNamara, managing director and president of Goldman Sachs Mutual Funds explained it to MFWire.

Our success this year is directly related to our efforts over a multi-year period in helping our financial advisor clients:
(1) make sense of the markets,
(2) build effective portfolios & practices and
(3) deliver lasting investment solutions to their end-investors.

We have built a robust and compelling range of product solutions for our clients many of which are squarely in-line with the key challenges investors face today:
  • The prospect rising interest rates and the impact that can have on bond portfolios if not properly diversified through a complementary exposure to an unconstrained fixed income strategy such as the GS Strategic Income Fund.
  • More conservative equity and multi-asset class solutions that enable investors to seek both attractive total return and income. Examples of funds in this category include the GS Income Builder Fund and the GS Rising Dividend Growth Fund.
  • The need for alternative or differentiated sources of return through strategies like the GS Multi-Manager Alternatives Fund or the GS Absolute Return Tracker Fund.

  • McNamara expressed solid ambitions for flows going forward.

    "Importantly, we view this recent success as merely a snapshot of a sustained expansion of our business given the depth and breadth of our distribution relationships, product suite and other key elements of our value proposition," he said.  

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