Goldman Sachs Asset Management Launches New Goldman Sachs 529 Plan

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Extends Commitment to Education Savings Services Through Partnership with Arizona State’s 529 Plan

NEW YORK, June 13, 2022–(BUSINESS WIRE)–Goldman Sachs Asset Management today launched its asset management and distribution platform for the AZ529, Arizona State Advisor Plan, the Goldman Sachs 529 Plan. Ascensus College Savings Recordkeeping Services, LLC (Ascensus) will act as the new program manager.

“As a global leader in active investing, we can deliver solutions at scale to meet the evolving needs of our clients across all areas of asset management,” said Luke Sarsfield, Co-Global Head of Goldman Sachs. Asset Management. “As we build this exciting new relationship with the State of Arizona and Ascensus, our ambition is to serve more families with a growing set of solutions designed to meet their long-term college savings needs. We will seek to partner with finance professionals to build on our differentiated advisor-led offerings and successful long-term retail strategy.”

The Goldman Sachs 529 plan will be available from financial professionals. The plan offers a range of investment portfolios drawing on the expertise of investment teams with a long history of designing and managing portfolio solutions for clients around the world.

“We believe investors will benefit from our experience of managing multi-asset portfolios for more than two decades,” added Greg Calnon, global head of multi-asset solutions at Goldman Sachs Asset Management. “To help investors achieve their life and financial goals, including funding education for themselves and their families, we intend to partner with financial professionals to provide products and multi-asset class solutions, with a focus on asset allocation, tactical implementation, risk management and portfolio construction.”

The Plan offers a diverse range of investment options designed to meet a wide variety of investment objectives and education savings needs, including:

  • Year of Enrollment Portfolios designed to match the intended year of college enrollment. Each year-of-listing portfolio is managed along a pre-determined slide path and the asset allocation automatically adjusts over time.

  • Target risk portfolios that provide the flexibility to invest based on risk tolerance and investment objectives. The risk profile of each target risk portfolio will remain consistent and fixed over time.

  • Individual portfolios offering a range of asset classes for choice and diversification. Investments include stock funds, bond funds or a stable value fund.

The Goldman Sachs 529 plan is designed to make saving easier and includes benefits such as competitive fees and investment minimums, as well as the ability to manage accounts efficiently with extensive online account functionality.

As Arizona’s tax-efficient college and college savings program, AZ529 Arizona College Savings Plan has helped families save more than $1.8 billion for education expenses over the past 20 years. It allows participants to start saving for a variety of future educational needs, including K-12 education, apprenticeship programs, trade schools, community and four-year colleges and programs. of higher education. Investors can work with their finance professionals to access Goldman Sachs Asset Management’s capabilities and resources in the AZ529, Advisor Plan.

Arizona State Treasurer Kimberly Yee and the Arizona State Board of Investment (BOI) unanimously approved the deal. The BOI approved an initial 5-year agreement with a 2-year extension by mutual agreement.

“By partnering with Goldman Sachs, we continue our commitment to making the AZ529 advisory plan even more effective and diverse,” said Arizona Treasurer Kimberly Yee. “We expect Goldman Sachs Asset Management to successfully partner with financial professionals to provide investment expertise that will help more Arizona families achieve their future educational goals.”

Fidelity Investments will continue to manage the AZ529 plan sold directly.

About Goldman Sachs Asset Management

Combining traditional and alternative investments, Goldman Sachs Asset Management offers clients around the world a dedicated partnership and a focus on long-term performance. As a primary investment area within Goldman Sachs (NYSE: GS), we provide investment and advisory services to the world’s leading institutions, financial advisors and individuals, leveraging our deeply connected global network and on tailored expert insights, in every region and market – overseeing over $2 trillion in assets under supervision globally as of March 31, 2022. Driven by a passion for our clients’ performance, we seek to building long-term relationships based on belief, lasting results and shared success over time. follow us on LinkedIn.

About AZ529 Advisor Plan

The Arizona 529, Advisor Plan had 34,734 accounts and $712 million in assets under management as of March 31, 2022. The Goldman Sachs 529 Plan is one of two tax-advantaged college savings programs in Arizona allowing participants to save for college, vocational and workforce training, apprenticeship programs and private K-12 education. For more information, please visit https://az529.gov/

Further information

Goldman Sachs Asset Management LP. offers the Goldman Sachs 529 Plan under AZ529, the Arizona Education Savings Plan (“AZ529”). AZ529 is administered by the Office of the Arizona State Treasurer. Ascensus College Savings Recordkeeping Services, LLC, the program manager, has overall responsibility for the day-to-day operations of the Goldman Sachs 529 plan, including record keeping and administrative services. Goldman Sachs Asset Management LP. acts as investment manager. Goldman Sachs & Co. LLC markets and distributes the Goldman Sachs 529 Plan.

An investment in the Portfolios is subject to risks, including: the investment risks of the Portfolios which are described in the Plan Description; the risk of (a) losing money over short or even long periods; (b) changes to the Goldman Sachs 529 Plan, including fee changes; (c) changes in federal or state tax laws; and (d) that contributions to the Goldman Sachs 529 Plan may adversely affect the Beneficiary’s or Account Holder’s eligibility for financial assistance or other benefits. For a detailed description of the risks associated with the Goldman Sachs 529 plan and the risks associated with the underlying portfolios and funds, please refer to the plan description.

Goldman Sachs 529 portfolios invest in: exchange-traded funds, mutual funds and segregated accounts (“underlying funds”). The units of the portfolios are municipal fund securities and the value of the units will vary according to market conditions. Accounts are not insured by the State of Arizona, AZ529, Arizona College Savings Plan, Arizona State Treasurer’s Office or any other government entity, Ascensus College Savings Recordkeeping Services, LLC, or any affiliated or related party, Goldman Sachs & Co. LLC, or any affiliated or related party, and neither the principal deposited nor any return on investment is guaranteed by any of the parties referenced above . The Arizona State Treasurer’s Office is the administrator of AZ529, the Arizona College Savings Plan.

Goldman Sachs Asset Management, LP, which acts as investment manager of the Goldman Sachs 529 Plan, is registered with the United States Securities and Exchange Commission and Goldman Sachs & Co. LLC, which acts as a distributor of the Goldman Sachs 529 Plan, is registered with the United States Securities and Exchange Commission and the Municipal Securities Rulemaking Board.

Before investing in a 529 plan, you should consider whether your home state or the recipient’s state offers a 529 plan that offers its taxpayers favorable state tax and other state benefits such as financial aid, scholarship funds, and creditor protection that are only available through investment in the home state’s 529 plan. You should also consult your financial, tax or other advisor to learn more about how state-based benefits (or any limitations) would apply to your particular situation. You can also contact the 529 plan(s) in your home country, or any other 529 plan, directly to learn more about the features, benefits, and limitations of those plans. Keep in mind that state-based benefits should be one of many appropriately weighted factors to consider when making an investment decision.

For more information about the Goldman Sachs 529 Plan, contact your financial professional, call 888-462-6209, or visit our website at GSAM.com/529plan for the plan description, which includes investment objectives, risks, charges, expenses and other important information; read it and think about it carefully before investing.

Goldman Sachs does not provide legal, tax, or accounting advice except as expressly agreed between you and Goldman Sachs (generally through certain services offered only to Private Wealth Management clients). Any statement contained in this presentation regarding US tax matters is not intended or written for use and may not be used for the purpose of avoiding penalties imposed on the affected taxpayer. Notwithstanding anything to the contrary herein, and except as required to enable compliance with applicable securities laws, you may disclose to any person the U.S. federal and state tax treatment and tax structure of the transaction and all materials of any kind (including opinions and other tax analyses) provided to you regarding such tax treatment and tax structure, without Goldman Sachs imposing any limitation of any kind. Investors should be aware that the determination of the tax consequences for them should take into account their particular circumstances and that tax law may change in the future or retroactively and investors are strongly advised to consult their own tax adviser regarding any strategy potential. , investment or transaction.

The portfolio risk management process includes effort to monitor and manage risk, but does not involve low risk.

Diversification does not protect an investor from market risk and does not guarantee a profit.

Assets under supervision (AUS) includes assets under management and other client assets over which Goldman Sachs does not have full discretion.

First use date June 13, 2022. Compliance Code: 281784-OTU-1620923

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

© 2022 Goldman Sachs. All rights reserved.

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