GSAM acquires RBS money market fund range

Goldman Sachs Asset Management (GSAM) is to acquire RBS' range of money market funds.

GSAM will take over the Global Treasury funds as RBS moves to focus on its core offering. The transaction is expected to complete in the first quarter of 2014, subject to regulatory and investor approval. There will be no changes to the way the accounts are managed during the transition period, and no expenses to be incurred by any of the funds or investors, GSAM said. The firm has over 30 years of experience managing money market funds using a conservative approach. "GSAM has $195bn in money market fund assets under management, 33% of which is in Europe," said Kathleen Hughes,...