GSAM launches Goldman Sachs Europe High Yield Bond Portfolio
Goldman Sachs Asset Management (GSAM) has announced the launch of the Goldman Sachs Europe High Yield Bond Portfolio, a new sub-fund to the Ucits qualifying Luxembourg-based Goldman Sachs Sicav fund.
The new fund consists of an actively managed portfolio, primarily of below investment grade fixed income securities issued by European companies.
“The Goldman Sachs Europe High Yield Bond Portfolio is designed to access opportunities in a rapidly growing European high yield market where structural drivers such as bank deleveraging are expected to lead to a substantial increase in issuance over the next 5 years” commented Nick Phillips (pictured) head of GSAM’s International Third Party Distribution business.
The portfolio will be managed by GSAM’s Corporate Credit investment team, comprising of over 72 investment professionals including 28 dedicated to leveraged credit, the team is also currently responsible for managing approximately $4bn of European domiciled high yield assets across its global fixed income strategies
The fund is offered in Base and Other Currency Shares with a EUR 5,000 minimum initial investment, it also offers Institutional Shares.