“Goldman Sachs Asset Management wants to increase its share of fiduciary assets under management to 10 per cent of the US and UK total as institutional clients demand more sophisticated investment solutions.
“Katie Koch, head of GSAM’s global portfolio solutions team, which manages over $20bn of client assets, says that the UK is a particularly important growth region for the US fund house. Fiduciary management involves more “hand holding” with pension fund clients and consequently higher fees.
“Last year KPMG, the consultancy, estimated that fiduciary assets under management in the UK jumped 40 per cent to over £23bn, accounting for roughly 2.4 per cent of pension scheme assets. Another £30bn is believed to be handled by fiduciary managers on a partly delegated basis.
“Ms Koch believes UK fiduciary assets under management could continue to grow at a compound annual growth rate of 16 per cent, and feels GSAM is well placed to take advantage of that trend.”
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