Goldman Sachs Asset Management (GSAM) has launched a series of eight target date retirement funds.
The mutual funds are available in five-year increments ranging from retirement years 2020 to 2055.
GSAM has re-entered the target date space via the adoption of the Madison Target Retirement Funds – four target date funds whose track records date back to 2007 – from Madison Asset Management.
By combining Madison’s track record with GSAM’s distribution capabilities, GSAM seeks to deliver a differentiated solution primed to meet today’s fiduciary challenges and retirement investor needs.
“Consultants, advisers and plan sponsors are re-examining their process for evaluating target date funds following guidance from the Department of Labor,” says David A Solomon, National sales manager for defined contribution investment only at GSAM. “Understanding and managing conflicts of interest has become top of mind for plan sponsors. The Goldman Sachs Target Date Portfolios seek to provide an objective approach to defining the universe of underlying funds used in portfolio design and other unique features we believe sponsors will value to address today’s fiduciary challenges.”