Goldman Sachs AM soft-closes Next 11 fund

Goldman Sachs Asset Management has soft-closed its N-11 Equity Portfolio less than three years after launch, as assets in the strategy swelled beyond $1.7bn (£1.1bn).

New investors can no longer put money into the fund, but existing investors can still add to their holdings, with remaining capacity of around $300m-$500m, depending on market conditions. Investment Week understands GSAM is preparing to launch a Growth Markets fund later this year, which will provide exposure to similar growth regions. The fund is already listed in the group's prospectus, with a provisional launch date before January 2014, depending on investor appetite. It will invest in the eight global growth markets that already contribute more than 1% to global GDP - the tradi...