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Goldman Sachs Asset Management to Manage Five IG Wealth Portfolios in Canada
Goldman Sachs Asset Management has entered into a new advisory partnership with IG Wealth Management, significantly expanding its footprint in the Canadian retail investment market. The U.S. asset manager will assume portfolio management for five of IG Wealth's Strategic Wealth Portfolios, the companies announced Tuesday.
Partnership Details
Under the agreement, Goldman's Multi-Asset Solutions team will take over management of five globally diversified funds, which were previously known as the IG Core Portfolios. These products are designed for retail investors and offer exposure across equities, fixed income, and alternative asset classes.
The portfolios included in the mandate are:
- 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
A New Management Approach
AdGoldman Sachs Asset Management plans to implement a holistic management style with a focus on risk discipline and dynamic allocation across different market environments. The firm will integrate its own flagship strategies into the portfolios while continuing to use existing third-party strategies via its open architecture platform.
"This partnership strengthens the investment foundation of the IG Strategic Wealth Portfolios by incorporating the world-class institutional investment capabilities of Goldman Sachs Asset Management," said Florence Narine, Head of Investment Solutions at IG Wealth Management. Narine cited the firm's "adaptive active management, the breadth and expertise of their global resources and a disciplined approach to risk management" as key benefits for their clients.
Implications for Investors
This strategic move provides Goldman Sachs with deeper access to Canada's retail wealth sector through a partnership with an established domestic player. For IG Wealth Management clients invested in these portfolios, the change brings the institutional-level expertise and global reach of one of the world's largest asset managers to their investments.
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