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Wednesday, August 05, 2015

GSAM Puts More Chips On a Key Channel

Reported by Neil Anderson, Managing Editor

The Goldman Sachs Asset Management [profile] team is putting more chips on a key channel: 401(k)s and other retirement plans.

Greg Wilson
Goldman Sachs Asset Management
Head of DC I-O Sales, Third-Party Distribution
On Monday Greg Wilson, head of DC I-O sales for third-party distribution at GSAM, confirmed that the New York City-based asset manager is rolling out R6 shares for 54 mutual funds. 49 launched on July 31, and the rest will debut by year-end.

R6 shares include no revenue-sharing and are cheaper even than GSAM's I shares, while having no investment minimums. In a 401(k) world increasingly focused on transparency and low costs, R6 shares have become more and more popular.

"It really was driven by client demand," Wilson tells 401kWire. "We're seeing demand from the advisors that we're working with, up and down the spectrum."

GSAM claims more than $1 trillion in assets under supervision, including more than $76 billion in defined contribution assets. 

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