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Market Update

Goldman Sachs Global Income Continues to Shine

Defensiveness boosts performance.

Goldman Sachs Global Income Fund (GSGIX) is proving that slow and steady sometimes wins the race. The fund has gained more than 7% for the year to date through December 19, 2000, outpacing 80% of its peers.

Investors can thank the fund’s defensiveness for this performance. After building up their exposure to corporate debt in 1999, the managers increased their stake in U.S. government bonds with shorter maturities in 2000. This proved to be a well-timed move as Treasuries have generally outperformed even high-quality bonds issued by large nongovernment groups such as the World Bank.

But the fund has some unusual aspects too. Premium users can  click here to read the latest Morningstar Take.


Gabriel Presler does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.