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Goldman Sachs latest to launch short-duration Euro bond fund

Goldman Sachs latest to launch short-duration Euro bond fund

Goldman Sachs Asset Management is to become the latest fund group to offer a short-duration Euro bond product with the launch of a new fund.

The Goldman Sachs Euro Short Duration Bond Portfolio will invest its assets primarily in investment-grade short-term fixed and floating-rate debt securities denominated in Euros.

The fund’s management fees are expected to range from 0.4% to 0.8% depending on the share class bought. The lowest minimum investment amount has been set at £1,500.

Goldman Sachs already runs a Euro Fixed Income fund, a first quartile performer over the past one, three and five years. On a five-year view it has produced an annualised return of 6.07% compared with 4.33% from its peer group and 5.09% from its benchmark Barclays Euro Aggregate Bond index.

The launch follows a year in which money has flown into fixed income funds that offer some protection against interest rate rises. According to the most recent data from Lipper, in November short-duration Euro bond funds pulled in £1.8 billion, making it the month’s fifth most popular sector.

Earlier this month Standard Life converted its Select Income fund into a short-duration credit fund for its recent hire Daniel McKernan, who joined the firm from Swip in September.

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