GLOBAL - Despite announcing a 27% slip in overall group profits, Goldman Sachs Asset Management registered an 18% rise in assets under management over the second quarter of trading for 2005.
GSAM saw a net inflow of US$10bn in assets under management during the quarter, with assets under management up to US$490bn and according to Ted Sotir, managing director and co-head of Goldman Sachs Asset Management, it sees continued growth potential for the remainder of the year.
Sotir told Global Pensions that Goldman Sachs had been successful in attracting more pensions mandates, and announcements on who they had captured would be made shortly.
He said business in the US, Europe and Asia where all “growing quite nicely,” and that the UK was showing strong signs of a move towards specialist mandates and the concept of new balanced. He also saw potential in Scandinavia.
Sotir added: “You would also say there is a little bit more interest in the Middle East due to what has happened with oil prices. I think that will be an attractive region where money can be sourced from.”
A "substantial" parliamentary bill acting as a "roadmap" for the long-term future of private pensions will lead to a "significant period of calm", Guy Opperman has promised.
The Department for Work and Pensions (DWP) has completed its appointment process for the Single Financial Guidance Body's (SFGB) board, naming three non-executive directors.
Pensions and financial inclusion minister Guy Opperman has launched a simplified two-page annual statement in a bid to provide a best practice template for the industry.
Some 70% of defined contribution (DC) members want to know their scheme is personalised and tailored to their needs, an Invesco language study reveals.