Goldman Files for Enhanced Cash
Goldman Sachs filed to launch Goldman Sachs Prime Plus Fund, we learned from ignites.com. The filing says of the new fund's objective, "The Goldman Sachs Prime Plus Fund (the "Fund") seeks to generate current income while maintaining an emphasis on preservation of capital and liquidity.... The Fund pursues its investment objective by investing in a broad range of high quality, U.S. dollar-denominated money market and other fixed income instruments, including obligations issued or guaranteed by the U.S. Government, its agencies ... obligations of U.S. banks, corporate notes, commercial paper and other short-term obligations of U.S. companies, states, municipalities and other entities, fixed and floating rate asset-backed securities and repurchase agreements. The Fund may also invest in U.S. dollar-denominated obligations issued or guaranteed by foreign banks, companies and governments or their agencies, authorities, instrumentalities or sponsored enterprises. The Fund will not invest in mortgage-backed securities or derivatives.... The Fund will invest at least 85% of its total assets in securities (or the issuers of such securities) that are rated, at the time of purchase, in the highest short-term credit rating category by at least one nationally recognized statistical rating organization ("NRSRO") (A-1, P-1, or F1 by Standard & Poor’s Ratings Services ("Standard & Poor's"), Moody's Investors Service, Inc. ("Moody's") or Fitch Ratings, Inc. ("Fitch"), respectively), or, if such securities are unrated, determined by the Investment Adviser to be of comparable credit quality at the time of purchase. The remainder of the Fund's investments will carry a minimum short-term credit rating of A-2, P-2, or F2 by Standard & Poor's, Moody's or Fitch, respectively, at the time of purchase, or, if such securities are unrated, determined by the Investment Adviser to be of comparable credit quality at the time of purchase.... Except for floating rate and variable rate securities, the Fund will invest in securities that have remaining maturities of two years or less at the time of purchase, with limited exceptions where a security has maturity shortening features (e.g., demand features). Floating rate and variable rate securities must have remaining maturities of three years or less at the time of purchase, with limited exceptions where a security has maturity shortening features (e.g., demand features). The Fund will maintain a dollar-weighted average portfolio maturity ("WAM") that does not exceed 270 days and a dollar-weighted average portfolio life ("WAL") that does not exceed 365 days. The fund is not a money market fund and does not attempt to maintain a stable net asset value." Also, see the filing for WisdomTree Floating Rate Treasury Fund, which says, "The WisdomTree Floating Rate Treasury Fund (the "Fund") seeks to track the price and yield performance, before fees and expenses, of an index that measures the performance of the market for floating rate public obligations of the U.S. Treasury." Neither fund has listed expense ratios yet.
