UK - Goldman Sachs Asset Management (GSAM) and State Street Global Advisors (SSgA) have launched two new strategies for institutional investors.
GSAM has unveiled the GS Yen Liquid Reserves Fund, making it the first Japanese yen-denominated money market fund to be rated AAA by Standard & Poor’s.
Its investments will consist exclusively of securities or deposits carrying a short-term rating of at least ‘A-1’ or the equivalent with most securities rated ‘A-1+’.
Meanwhile, SSgA, has extended its 130/30 investment product range with the launch of UK Alpha Edge, with the objective of outperforming the FTSE All-Share Index by +4 % per year over rolling three-year periods.
Kanesh Lakhani, managing director of SSgA in the UK, said: “The key advantage of the 130 / 30 approach is that it allows managers to express both their negative and positive views to enhance returns while controlling risk.”
Global Pensions reported in March how SSgA won a £165m global equity 130 / 30 mandate from the Asda Group Pension Fund for Global Alpha Edge.
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
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The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.