Goldman Sachs Asset Management LP will launch a new municipal closed-end fund as part of its existing lineup of tax-exempt mutual funds, according to an 24 October registration with the Securities and Exchange Commission.
The addition, which is to be called the Goldman Sachs Municipal Opportunity Fund, will bring the firm’s number of tax-free mutual funds to six. A spokeswoman at Goldman said the firm was not able to comment on the filing, and could provide no other details.
According to the SEC filing, the fund is a closed-end investment company designed primarily for long-term investors and not as a trading vehicle. The minimum investment in the fund is $5,000, with no minimum amount required for subsequent investments.
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