Goldman Sachs Asset Management (GSAM) is planning to increase its fiduciary assets under management’s (AUM) share to 10% of the US and UK total.
GSAM head of global portfolio solutions team Katie Koch was quoted by Financial Times as saying that the UK is a particularly important growth region for the US fund house.
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In 2012, tax advisory firm KPMG projected that fiduciary AUM in the UK increased 40% to more than £23 billion, representing about 2.4% of pension scheme assets.
Financial Times reported that Koch believes UK fiduciary AUM may continue to increase at a compound annual growth rate of 16%, and feels GSAM is well placed to take advantage of that trend.
Koch said: "We are increasing our efforts in the UK market where we already have a meaningful presence and good visibility and relationships with pension fund sponsors, trustees and consultants."
The company is also reported to be in the process of building a suite of global multi-asset funds for retail and small investors.
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By GlobalDataKoch said: "We are very excited about the prospect for growth in the multi-asset market."
GSAM, which is the asset management unit of the Goldman Sachs Group, manages US$860 billion as of 31 March 2013.
With 32 offices globally, GSAM provides investment and advisory solutions, with strategies spanning asset classes, industries, and geographies.
