Goldman Sachs Asset Management welcomes AA van Eyk Rating

Goldman Sachs Asset Management today announces that its Australian Equities Wholesale Fund has been recognised with the top AA rating in van Eyk Research’s Australian Equities Review 2012.  

The review considered forty-six ‘long only’ fund managers offering Australian equities funds, and awarded two managers with the highest AA rating. This is the first time van Eyk has awarded an AA rating in Australian equities since 2009. 

The van Eyk researchers identified the Goldman Sachs Asset Management senior investment team’s experience, quality of research and “non-consensus” stock insights as key competitive strengths. 

Philip Gardner, managing director, Goldman Sachs Asset Management Australia, welcomed the van Eyk research:  

“We are extremely pleased to receive van Eyk’s top rating in its 2012 Australian Equities Review. This recognises the efforts of our Australian Equities team and their strong focus on a fundamental, style neutral approach.”  

The Goldman Sachs Australian Equities Wholesale Fund has underlying investments in ASX listed companies that have strong capital-growth potential over the medium to long term. It is managed by a team of ten experienced investment professionals led by Dion Hershan, who has managed the fund since 2007. 

“We are delighted to receive a AA rating from van Eyk in its 2012 Australian Equities Review,” said Mr Hershan. “While the consensus view is that 2012 will be another difficult year for Australian equities we see a number of significant themes for the year ahead.” 

“The first is that with expectations having been largely reset in the Australian market, and with valuations continuing to look depressed, an opportunity is emerging in Australian equities. Clearly the local economy has weakened but we would suggest it is temporary, the companies we invest in have strong balance sheets and can withstand short term pressure.”  

“We believe it is critical to be selective and focused in the current environment. As a fundamental investor we spend a lot of time identifying companies that we feel can prosper irrespective of the macro environment and this continues to be a major focus for us. From a sector perspective we are positive on Banks, Transport and Energy where we see specific opportunities. We remain cautious around commodity prices and the risk of near term demand weakness, which is reflected in our current position in Resources.”