Goldman Sachs Asset Management takes over five IG funds and adds its own flagship strategies
Five portfolios in IG Wealth Management's retail lineup are passing to Goldman Sachs Asset Management's Multi-Asset Solutions team, which assumes portfolio management responsibilities for the renamed IG Strategic Wealth Portfolios.
The two firms announced the collaboration on September 8 from Winnipeg, describing it as a pairing of IG's integrated financial planning with Goldman Sachs Asset Management's investment capabilities.
The five funds come from the suite formerly known as the IG Core Portfolios, according to the joint announcement.
Goldman Sachs Asset Management will introduce complementary flagship Goldman Sachs strategies alongside the strategies already in the portfolios, drawing on its open architecture platform and its multi-manager experience.
In the announcement, the firms said the arrangement will give IG clients and Canadian retail investors access to globally diversified strategies across equities, fixed income, and alternatives, using solutions that have historically been available only to institutional clients.
The release said Goldman Sachs Asset Management will apply a holistic management approach to the portfolios with an emphasis on risk discipline and dynamism across different market environments.
Goldman Sachs Asset Management's active management, global resources, and risk management approach will sit behind the IG Strategic Wealth Portfolios, said Florence Narine, head of investment solutions at IG Wealth Management, in the announcement.
Narine said the portfolios give clients globally diversified exposure.
Alexandra Wilson-Elizondo, global head and co-chief investment officer of Multi-Asset Solutions and portfolio manager at Goldman Sachs Asset Management, said in the release that global economic forces are moving faster and less predictably than before.
Her Multi-Asset Solutions team will bring asset allocation and risk management work to IG clients in Canada, according to the announcement.
The announcement lists the five funds as:
- IG Strategic Wealth Portfolio – Income Focus
- IG Strategic Wealth Portfolio – Income Balanced
- IG Strategic Wealth Portfolio – Balanced
- IG Strategic Wealth Portfolio – Balanced Growth
- IG Strategic Wealth Portfolio – Growth
