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GSAM says European institutional AUM up 43%

EUROPE – Goldman Sachs Asset Management says its European institutional assets under management have risen by 43% in dollar terms.

The AUM have risen to $58.5bn (€44.0bn) as at the end of November 2004 – from $40.7bn a year before.

It won more than 90 specialist mandates – including almost 30 in the UK - across asset classes in 2004.

“In the institutional arena we have experienced strong momentum in the UK, Ireland, Germany, Austria, Holland, the Nordic region, Switzerland and the Middle East,” said Suzanne Donohoe, co-head of GSAM Europe.

“The three years of bear markets have sharpened the industry’s focus on the core issues of solving pension fund deficits and matching liabilities.”

Its offshore funds under management rose to €41.2bn, with “significant growth” coming from quantitative equity and investment strategies with low correlations to traditional asset classes.

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