The Goldman Sachs Asset Management
] team is putting more chips on a key channel: 401(k)s and other retirement plans.
| Greg Wilson|
Goldman Sachs Asset Management
Head of DC I-O Sales, Third-Party Distribution
On Monday Greg Wilson
, head of DC I-O sales for third-party distribution at GSAM, confirmed
that the New York City-based asset manager is rolling out R6 shares for 54 mutual funds. 49 launched on July 31, and the rest will debut by year-end.
R6 shares include no revenue-sharing and are cheaper even than GSAM's I shares, while having no investment minimums. In a 401(k) world increasingly focused on transparency and low costs, R6 shares have become more and more popular.
"It really was driven by client demand," Wilson tells 401kWire
. "We're seeing demand from the advisors that we're working with, up and down the spectrum."
GSAM claims more than $1 trillion in assets under supervision, including more than $76 billion in defined contribution assets.
Stay ahead of the news ... Sign up for our email alerts now