Business & Finance
Goldman Sachs Asset Management to Manage Five IG Wealth Management Portfolios
IG Wealth Management has transferred portfolio management responsibilities for five of its retail funds to Goldman Sachs Asset Management's Multi-Asset Solutions team. The funds, previously known as the IG Core Portfolios, have been renamed the IG Strategic Wealth Portfolios as part of the arrangement.
The two companies announced the partnership on September 8 in Winnipeg, framing it as a combination of IG's integrated financial planning approach with Goldman Sachs Asset Management's investment expertise.
According to the joint statement, Goldman Sachs Asset Management will incorporate its own flagship strategies into the five portfolios, in addition to the existing holdings, drawing on its open architecture platform and experience managing multi-manager funds. The firms said this will provide IG clients and other Canadian retail investors with access to globally diversified strategies spanning equities, fixed income, and alternative investments—solutions that have traditionally been reserved for institutional investors.
The announcement indicated that Goldman Sachs Asset Management will oversee the portfolios using a holistic management approach that prioritizes risk discipline and adaptability across varying market conditions.
Florence Narine, head of investment solutions at IG Wealth Management, said the portfolios will now be backed by Goldman Sachs Asset Management's active management style, global resources, and risk management framework, giving clients broad global diversification.
Alexandra Wilson-Elizondo, global head and co-chief investment officer of Multi-Asset Solutions and a portfolio manager at Goldman Sachs Asset Management, noted in the release that global economic conditions are shifting more rapidly and unpredictably than in the past. She said her team's asset allocation and risk management expertise will now be extended to IG's Canadian clientele.
The five renamed funds are: IG Strategic Wealth Portfolio – Income Focus, IG Strategic Wealth Portfolio – Income Balanced, IG Strategic Wealth Portfolio – Balanced, IG Strategic Wealth Portfolio – Balanced Growth, and IG Strategic Wealth Portfolio – Growth.