Liquid Alternatives: Goldman Sachs Moves Alt Fund To In House Quants, Slashes Fees

June 27, 2023 | Liquid Alternatives, News

Goldman Sachs has changed the management of the Multi-Manager Alternatives Fund from external money managers to in-house quants.

Goldman Sachs Group Inc. (NYSE: GS) is implementing computer-driven algorithms to manage its Multi-Manager Alternatives Fund, replacing external money managers. The move aims to reduce fees and revive the fund’s diminishing assets. The fund’s name will be changed to Goldman Sachs Multi-Strategy Alternatives Fund.

The decision to switch to proprietary algorithms will eliminate the need to pay external managers, allowing for a reduction in the annual management fee from 1.90% to 0.75%. The fund’s assets have declined in recent years due to investors withdrawing from liquid alternative funds. (Bloomberg)

By offering more competitive fees and maintaining exposure to a diversified range of alternative investment strategies, Goldman Sachs hopes to attract new investors.

The fund will be overseen by Oliver Bunn, the head of Goldman’s QIS alternatives team, replacing previous portfolio managers Betsy Gorton, Peter Seok, and Jennifer Stack.

The fund will continue to invest in various traditional and non-traditional alternative strategies, including event-driven, tactical, relative value, and opportunistic fixed-income investing.

The change in management of the fund takes effect in September.

Related Story: Investing In Liquid Alts In 2023

Photo by ODISSEI on Unsplash

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