Goldman Isn’t Glittering
*The SEC has launched a probe into two GSAM funds over breach of ESG disclosures; and *For an ESG track record and performance, consider the Small Enterprise Assistance Funds in Washington, DC
Press reports suggest that the Securities and Exchange Commission (“SEC”) has launched a probe into two Goldman Sachs Asset Management (“GSAM”) [GS.US] funds on a potential breach of disclosures in their environmental, social, and governance (“ESG”) marketing materials despite there not being any official US rules in place on ESG. GSAM would potentially be in violation of rules if their disclosures do not materially match investment practices. The ESG designation has been a boon for asset managers that struggled in recent years to compete with low-fee index funds.
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