LONDON (HedgeWorld.com)–Goldman Sachs Asset Management is preparing to list a new fund of funds in August on the London Stock Exchange.
Goldman Sachs Dynamic Opportunities, a closed-end fund, will offer a core allocation to high conviction managers spread across four core strategies. It also will allocate to niche strategies.
The float is being sponsored by Hoare Govett, part of ABN Amro. It is expected that the offering could attract up to ?? 1/2 400 million. That would make the fund the second biggest listed entity in London after Dexion Absolute, which has aggregate net assets of over ?? 1/2 530 million.
Listed funds of funds have experienced growing popularity in the past year. Dexion and others are currently engaged in new fund raisings and the sector has shown resilience during the recent market declines.