Goldman Sachs Asset Management (GSAM) has introduced an R6 retirement share class across 54 mutual funds, which the firm says underscores its commitment to retirement investors.
The initial launch includes 49 funds that became available for purchase on July 31. The remaining funds will be launched later this year.
Retirement clients gain access to a cost-effective investment vehicle with a lower expense ratio than GSAM’s current institutional or I share class. Class R6 shares are generally available only to certain types of employee benefit plans. The R6 shares will not pay any form of intermediary compensation, which includes 12b-1 and/or distribution, service, sub-TA or any other fees. Like GSAM’s Class IR and Class R shares, they are not sold directly to the public.
The R6 retirement share class offers cost and transparency, two increasingly important considerations when structuring investment menus for defined contribution plans, notes Greg Wilson, head of defined contribution investment only (DCIO) sales for third-party distribution at GSAM.
More information is at GSAM’s website.