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Separately Managed Accounts

Because One Size Doesn’t Fit All.

Investing can be personal – to reflect values and address unique circumstances. Our separately managed accounts (SMAs) are designed to help meet clients’ investment and personal goals.

Why Invest in an SMA?

A separately managed account is a portfolio of securities managed by professionals on a client’s behalf that can be customized to meet specific needs and objectives.

 

Tax

Tax Management

Allows for maximization of after tax returns based on each investors' unique tax position

Ownership

Direct Ownership

Enables clients to direct their investments toward a number of possible outcomes

Integration

Values Integration

Brings personal beliefs to the forefront, from environmental to social views

Why Goldman Sachs SMAs?

As one of the largest SMA managers in the market, we take the time to build an in-depth understanding of our clients’ evolving goals and priorities while harnessing the firm’s vast expertise across asset classes and regions.

Client Focus 

We take the time to understand our clients' needs, opportunities and objectives so that we can create personalized portfolios to help meet them.
 

Innovative Offerings 

We offer a variety of equity and fixed income strategies that can be fit to a wide range of objectives and personalized according to each individual investor’s requirements.
 

SMA Experience

We’ve spent decades managing customized investment solutions for institutions and high-net worth clients, starting with our first tax-managed equity strategies in 1999.

SMA Offerings

Equities

We apply insights from our global equity professionals and optimize investment decisions around taxes.

Fixed Income

Our customized strategies seek to maximize after-tax income across the fixed-income landscape.

Want to learn more about SMAs? Get in touch.

Munis in a Minute 
Got a Minute? We're Talking Munis


Sylvia Yeh

Co-Head of GSAM Municipal Fixed Income

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  • GSAM Connect 08 July 2021

    A Tax-Aware Approach That Goes Beyond Taxes

    As investors, we believe it’s not what you earn, but what you keep that matters. That’s why we’ve been focused for more than two decades on capturing the full stock market return while enhancing an investors performance by capturing tax-alpha—the added value that sound tax strategies can bring to an investment portfolio.

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Supplemental Information

  • PDF

    Portfolio Positioning - GS Municipal Pooled Vehicle

    Download Now

General Disclosures

Goldman Sachs does not provide legal, tax or accounting advice, unless explicitly agreed between you and Goldman Sachs (generally through certain services offered only to clients of Private Wealth Management). Any statement contained in this presentation concerning U.S. tax matters is not intended or written to be used and cannot be used for the purpose of avoiding penalties imposed on the relevant taxpayer. Notwithstanding anything in this document to the contrary, and except as required to enable compliance with applicable securities law, you may disclose to any person the US federal and state income tax treatment and tax structure of the transaction and all materials of any kind (including tax opinions and other tax analyses) that are provided to you relating to such tax treatment and tax structure, without Goldman Sachs imposing any limitation of any kind. Investors should be aware that a determination of the tax consequences to them should take into account their specific circumstances and that the tax law is subject to change in the future or retroactively and investors are strongly urged to consult with their own tax advisor regarding any potential strategy, investment or transaction.

Investments in fixed-income securities are subject to credit and interest rate risks. Bond prices fluctuate inversely to changes in interest rates. Therefore, a general rise in interest rates can result in the decline in the bond’s price. Credit risk is the risk that an issuer will default on payments of interest and principal. This risk is higher when investing in high yield bonds, also known as junk bonds, which have lower ratings and are subject to greater volatility. All fixed income investments may be worth less than their original cost upon redemption or maturity. Income from municipal securities is generally free from federal taxes and state taxes for residents of the issuing state. While the interest income is tax-free, capital gains, if any, will be subject to taxes. Income for some investors may be subject to the federal Alternative Minimum Tax (AMT). Alternative Minimum Tax (AMT) is a federal tax aimed at ensuring that high-income individuals, estates, trusts, and corporations pay a minimal level income tax. For individuals, the AMT is calculated by adding tax preference items to regular taxable income.

This information discusses general market activity, industry or sector trends, or other broad-based economic, market or political conditions and should not be construed as research or investment advice. This material has been prepared by GSAM and is not financial research nor a product of Goldman Sachs Global Investment Research (GIR). It was not prepared in compliance with applicable provisions of law designed to promote the independence of financial analysis and is not subject to a prohibition on trading following the distribution of financial research. The views and opinions expressed may differ from those of Goldman Sachs Global Investment Research or other departments or divisions of Goldman Sachs and its affiliates. Investors are urged to consult with their financial advisors before buying or selling any securities. This information may not be current and GSAM has no obligation to provide any updates or changes.

THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO.

Prospective investors should inform themselves as to any applicable legal requirements and taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant. This material is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client’s account should or would be handled, as appropriate investment strategies depend upon the client’s investment objectives.

There is no guarantee that objectives will be met.

Environmental, Social, and Governance (“ESG”) strategies may take risks or eliminate exposures found in other strategies or broad market benchmarks that may cause performance to diverge from the performance of these other strategies or market benchmarks. ESG strategies will be subject to the risks associated with their underlying investments’ asset classes. Further, the demand within certain markets or sectors that an ESG strategy targets may not develop as forecasted or may develop more slowly than anticipated.

Confidentiality

No part of this material may, without GSAM’s prior written consent, be copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.