Goldman Sachs Asset Management has launched 13 retail funds in Singapore though «local» banks are not early partners.
After a lengthy evaluation by the Monetary Authority of Singapore Goldman Sachs Asset Management (GSAM) has launched a diverse selection of funds into the Singaporean retail market.
Citing long standing relationships and a robust pipeline of demand GSAM have chosen to initially partner with HSBC and Standard Chartered.
When asked by finews.asia if they were close to signing a deal with a local partner Jessica Jones (pictured above), Managing Director, Head of Third Party Distribution Asia Pacific ex-Japan, would only say that talks were ongoing.
Singapore First
The Singapore retail funds launch is the first for GSAM in Asia ex Japan. Sheila Patel (pictured above), the Managing Director, CEO of GSAM International, who is based in Singapore said, that if conditions were right the firm would look at selective opportunities in other Asian markets.
Tough Market
The Singaporean retail funds market is a crowded, competitive and cost conscious arena, nevertheless, GSAM are boldly confident in their own track record.
In order to battle their way into investors portfolio’s Goldman’s claim the selection of funds to be available in Singapore are; world class, highly differentiated and highly rated and the firm will also leverage on their significant on the ground presence in the city state. Finally they believe that their focused and selective distribution channel will win them market share.
