GSAM announces fund-of-funds

Goldman Sachs Asset Management has introductioned two new fund-of-funds, the Goldman Sachs Income Strategies Portfolio (GXIAX) and the Goldman Sachs Satellite Strategies Portfolio (GXSAX), both of which will be managed by its by GSAM's Quantitative Strategies Group. The Goldman Sachs Income Strategies Portfolio seeks current income and capital appreciation, seeking incom -producing potential by investing in a combination of 10 income-oriented Goldman Sachs funds. The allocation of the fund is expected to be 40% equity and 60% fixed income. The Goldman Sachs Satellite Strategies Portfolio, whose objective is long-term capital appreciation, focused on the "satellite" portion of a core-satellite portfolio. The allocation range of these satellite investments in expected to be about 35% in international and emerging market equity, 35% in high yield bonds and emerging market debt, and 30% in domestic and international real estate and commodities. Both indexes are benchmarked to the Standard & Poor's 500 Index and its fixed income benchmark is the Lehman Brothers Aggregate Bond Index. The Goldman Sachs Income Strategies Portfolio and Satellite Strategies Portfolio are available in Class A and C share classes. Each requires a minimum investment of $1,000. The GSAM's Quantitative Strategies Group manages more than $6 billion in assets under management. The Goldman Sachs Group Inc. is based in New York.