Goldman Sachs Asset Management (GSAM) has soft-closed its N-11 Equity Portfolio less than three years after launch, as assets in the strategy swelled beyond $1.7 billion, reports Investment Week.
According to the report, new investors can no longer put money into the fund, but existing investors can still add to their holdings, with remaining capacity of around $300 million -$500 million, depending on market conditions.
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Investment Week’s exclusive report also revealed that GSAM is preparing to launch a Growth Markets fund later this year, which will provide exposure to similar growth regions.
It will invest in the eight global growth markets that already contribute more than 1% to global GDP – the traditional BRIC countries, along with Mexico, Korea, Turkey and Indonesia, the report added.
The N-11 fund was launched in January 2011 to invest in the securities of the ‘Next Eleven’ countries – Bangladesh, Egypt, Indonesia, Iran, Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey and Vietnam – on a GDP-weighted basis.
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