Dividends4Life: Goldman Introduces 10% Dividend Growth Fund

Goldman Introduces 10% Dividend Growth Fund

Posted by D4L | Wednesday, March 14, 2012 | | 0 comments »

Goldman Sachs Asset Management rolled out the newly named Goldman Sachs Rising Dividend Growth Fund (GSRAX) on Feb. 27 after completing its acquisition of the mutual fund management business of Dividend Growth Advisors. The $195 million fund targets 80% of its investments in stocks of U.S. and non-U.S. companies with market capitalizations over $500 million that have increased their dividends 10% a year over 10 years. Stocks of companies that cut their dividends get sold from the fund.

Companies in this category tend to be high-quality blue chips with sustainable competitive advantages and growing profitability, Davis noted. And they are shareholder-friendly, "all good attributes." As of March 1, the fund was up 6.1% year-to-date, 6.91% over one year and 5.41% over five years, according to investment site Morningstar.com. Goldman acquired the business to fill in a gap in its roster of mutual fund offerings, the firm said in December when the deal was announced.

Source: Fox Business

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