Montreal-based National Bank Investments Inc. (NBI) has added New York-based Goldman Sachs Asset Management LP (GSAM) to its roster of third-party portfolio managers, the National Bank of Canada subsidiary announced on Monday.
“The partnership with Goldman Sachs Asset Management is made possible thanks to our 100% open architecture platform here at National Bank Investments,” says Jonathan Durocher, NBI’s president and CEO, in a statement. “This entrepreneurial culture enables us to attract the most reputable portfolio managers and to provide investors with a unique access to their expertise.”
The partnership means that the GSAM-managed National Bank Strategic U.S. Income and Growth Fund, which has a balanced U.S-focused approach that is tactical in nature and employs currency risk management in its fixed-income allocation, is now available to investors in Canada, notes James McNamara, global head, third-party distribution with GSAM.
“We’re excited about expanding our investment management capabilities in Canada,” McNamara says in the statement.