New products introduced over the last week include a new alternative investments fund from Goldman Sachs and an emerging-markets government bond index fund from Vanguard.
In addition, OppenheimerFunds announced enhancements to its Scholar’s Edge 529 program, the Cambria ETF Trust launched a new ETF and Jemstep announced a 401(k) enhancement to its portfolio management service.
Here are the latest developments of interest to advisors:
1) Goldman Sachs Announces New Alternative Investments Fund
Goldman Sachs Asset Management (GSAM) announced Thursday the launch of the Goldman Sachs Multi-Manager Alternatives Fund (A shares, GMAMX), which offers exposure to a range of alternative and nontraditional investment strategies within the structure of a mutual fund. The fund’s A and C shares require $1,000 minimum initial investments. It is also offered in institutional, R and IR shares.
GMAMX expects to invest in a wide range of strategies, including equity long-short, dynamic equity, event-driven and credit, relative value, tactical-trading and opportunistic fixed income strategies. Jason Gottlieb and Ryan Roderick are co-portfolio managers for GMAMX and sit within GSAM’s alternative investments and manager selection (AIMS) group, which has more than 275 professionals across 10 offices around the world and provides manager diligence, portfolio construction, risk management and liquidity solutions.
2) Vanguard to Launch Emerging-Markets Government Bond Index Fund
Vanguard announced Tuesday the introduction of the Vanguard Emerging Markets Government Bond Index Fund (ETF shares: VWOB). The fund is now accepting investments during a subscription period that will end at close of business on May 30. During this period, the fund will invest in money-market instruments as it accumulates sufficient assets to construct a representative, diversified portfolio. The ETF shares are scheduled to begin trading in early June.
Following the subscription period, the fund will seek to track the Barclays USD Emerging Markets Government RIC Capped Index and will invest solely in U.S. dollar-denominated emerging-market bonds. The expense ratios are as follows: ETF, 0.30%; investor, 0.50%; admiral, 0.35%; and institutional, 0.30%. The fund will assess a purchase fee of 0.75% on all non-ETF shares to help offset the higher transaction costs associated with buying emerging-market bonds.