GOLDMAN SACHS ASSET MANAGEMENT
A Commitment to Sustainability or a Missed Opportunity?
Goldman Sachs Asset Management has positioned itself as a leader in sustainable investing, emphasising its commitment to environmental, social, and governance (ESG) principles. However, recent regulatory actions have raised concerns about the authenticity of these claims.
In November 2022, the U.S. Securities and Exchange Commission (SEC) charged GSAM with failures in policies and procedures relating to two mutual funds and one separately managed account strategy marketed as ESG investments. To settle the charges, GSAM agreed to pay a $4 million penalty.
The SEC’s order found that, from April 2017 until February 2020, GSAM had several failures in policies and procedures regarding the ESG research its investment teams used to select and monitor securities. Specifically:
- Goldman Sachs International Equity ESG Fund: Launched on 28 February 2018, this fund was found to lack written policies and procedures for ESG research from its inception until June 2018. Even after establishing such policies, GSAM failed to consistently follow them before February 2020.
- Goldman Sachs Emerging Markets Equity ESG Fund: Launched on 31 May 2018, this fund faced similar issues concerning the absence and inconsistent application of ESG research policies and procedures.
- US Equity ESG Strategy: A separately managed account strategy that also suffered from the same deficiencies in ESG research policies and procedures during the specified period.
At Claim My Loss, we believe that if a firm markets its funds as sustainable, it has a duty to ensure that these claims are accurate and substantiated. Investors often accept higher fees and potentially lower returns to support ethical investments. If these funds fail to meet regulatory expectations, fund managers owe it to their clients to justify their sustainability credentials.
Why Should Investors Be Concerned?
- Transparency Issues: The SEC’s findings suggest that GSAM may have provided misleading information about its ESG investment processes, raising questions about the firm’s transparency.
- Potential Greenwashing: Misstatements about ESG practices could indicate greenwashing, where firms exaggerate or misrepresent their sustainability efforts to attract investors.
- Accountability to Investors: Investors who believed they were supporting sustainable goals may feel misled if their investments fail to align with these promises.
- Underwhelming Returns: If you accepted lower returns in good faith, believing your investment supported sustainable practices, you may feel that GSAM has a duty to justify its approach.
Have Goldman Sachs Asset Management’s Funds Changed?
Following the SEC’s action, GSAM has faced increased scrutiny over its ESG practices. While the firm has not publicly announced any rebranding or renaming of its funds, the regulatory actions have prompted a reassessment of its sustainability claims. Investors should remain informed about these developments and seek clarity on the genuine sustainability of these funds.
Your Rights as an Investor
If you invested in GSAM’s funds and believe the firm’s sustainability claims were misleading, you may have grounds for a claim. Key legal grounds include:
- Misrepresentation: If GSAM marketed funds as sustainable without substantiating these claims, this could fall under the Misrepresentation Act 1967.
- Breach of Contract: If fund documentation promised ESG compliance or sustainability metrics that were not delivered, this could constitute a breach of contract.
- Financial Losses: Many investors choose sustainable funds with the expectation of meaningful contributions to ESG goals. If these expectations were not met, you may have experienced financial and ethical losses.
How Claim My Loss Can Help
- Expertise: We specialise in mis-sold financial products and investment claims.
- Personalised Support: Our team provides tailored guidance throughout your claim.
- No Win, No Fee: You won’t pay us unless we win your case.
Start Your Claim Today
If you’ve invested with Goldman Sachs Asset Management and believe they have a duty to disclose their sustainability standards, don’t hesitate to act. Contact Claim My Loss today for a free consultation and take the first step towards reclaiming what’s rightfully yours.
Claim My Loss: Fighting for Financial Justice.
Which Goldman Sachs firm is this?
The SEC case described above was brought against Goldman Sachs Asset Management, L.P. in the United States. The firm authorised in the UK is Goldman Sachs Asset Management International (FCA Firm Reference Number 147212), which is still authorised. If you are a UK investor and think you were mis-sold an ESG or sustainable fund, the route is a complaint to the firm or the adviser who sold it to you, then the Financial Ombudsman Service.
Company background (public record)
The company was incorporated at Companies House on 27 February 1990 under company number 02474901. Its status at Companies House is recorded as active.
Registered office: Plumtree Court, 25 Shoe Lane, London, EC4A 4AU, United Kingdom.
Previously named: HACKREMCO (NO.578) LIMITED.
Nature of business (SIC): 64191.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 27 Feb 1990 | Company incorporated | Companies House |
| 01 Nov 1990 | Company renamed (previously HACKREMCO (NO.578) LIMITED) | Companies House |
| 30 Oct 1995 | William David Lowndes appointed secretary | Companies House |
| 30 Oct 1995 | Therese Lynn Miller resigned as secretary | Companies House |
| 25 Jan 1996 | Bruno Andrea Cappuccini resigned as director | Companies House |
| 16 May 1996 | Paul Clive Deighton appointed director | Companies House |
| 20 May 1997 | Barry Michael Yin appointed secretary | Companies House |
| 22 Sep 1997 | David Wayland Blood appointed director | Companies House |
| 19 Nov 1997 | William Anthony Jones appointed secretary | Companies House |
| 19 Nov 1997 | William David Lowndes resigned as secretary | Companies House |
| 21 Jul 1998 | Alexander Macintyre Marshall appointed secretary | Companies House |
| 23 Jul 1998 | Barry Michael Yin resigned as secretary | Companies House |
| 05 May 2000 | Catherine Ercilla appointed secretary | Companies House |
| 05 May 2000 | William Anthony Jones resigned as secretary | Companies House |
| 01 Dec 2001 | FCA status recorded as: Authorised | FCA Register |
| 29 Jan 2024 | Daniel Jackson resigned as secretary | Companies House |
| 09 Feb 2024 | James Harry Leopold Reynolds appointed director | Companies House |
| 27 Feb 2025 | Frances Hawkins approved by the FCA at the firm | FCA Register |
| 26 Mar 2025 | Satish Sadashiv Bapat resigned as director | Companies House |
| 21 May 2025 | Ville Harju resigned as secretary | Companies House |
| 01 Sep 2025 | Jayshri Sriram approved by the FCA at the firm | FCA Register |
| 27 Oct 2025 | Fadi Abuali resigned as director | Companies House |
| 12 Dec 2025 | Carolyne Jane, Ms. Hodkin resigned as secretary | Companies House |
| 22 Dec 2025 | Daniel Stephen Polacco Sandersley approved by the FCA at the firm | FCA Register |
| 07 Jan 2026 | Goldman Sachs Secretarial Services Limited appointed corporate-secretary | Companies House |
| 15 Jan 2026 | Richard James, Mr. Asbery appointed director | Companies House |
| 15 Jan 2026 | Chloe Elizabeth Ashton Kipling appointed director | Companies House |
| 13 Jul 2026 | Jayshri, Ms. Sriram appointed director | Companies House |
Focused on the firm’s early history and the events leading up to and following its failure. 52 routine entries from its active years are omitted.
Who was involved?
The following individuals are listed on public records in connection with the firm. These are matters of public record only and their inclusion does not imply any wrongdoing by any named person.
- Karen Sharpe. Listed on the FCA Register as having held SMF10 Chair of the Risk Committee (from 19/01/2023), SMF13 Chair of the Nominations Committee (23/05/2022 to 03/05/2024), Director of firm who is not a certification employee or a SMF manager (05/01/2021 to 23/05/2022) at the firm.
- Ruth Manning. Listed on the FCA Register as having held SMF18 Other Overall Responsibility (from 19/10/2023) at the firm.
- Katherine Uniacke. Listed on the FCA Register as having held SMF12 Chair of the Remuneration Committee (from 23/06/2022), SMF9 Chair of the Governing Body (from 09/12/2019), CF2 Non Executive Director (10/01/2014 to 08/12/2019) at the firm.
- Victoria Baker-Duly. Listed on the FCA Register as having held SMF18 Other Overall Responsibility (from 12/05/2025), [FCA CF] Client dealing (from 01/04/2023), [FCA CF] Material risk taker (from 01/03/2025), [FCA CF] Manager of certification employee (01/04/2023 to 30/07/2026) at the firm.
- Daniel Stephen Polacco Sandersley. Listed on the FCA Register as having held SMF4 Chief Risk (from 22/12/2025), [FCA CF] Material risk taker (from 22/12/2025) at the firm.
- Kristy Jean Owen-Jardine. Listed on the FCA Register as having held SMF24 Chief Operations (from 23/06/2025), SMF3 Executive Director (from 07/06/2022), [FCA CF] Material risk taker (from 01/04/2023), [FCA CF] Significant management (09/12/2019 to 07/06/2022) at the firm.
- Jayshri Sriram. Listed on the FCA Register as having held SMF3 Executive Director (from 02/07/2026), SMF2 Chief Finance (from 01/09/2025) at the firm.
- Arnaud Porchet. Listed on the FCA Register as having held SMF18 Other Overall Responsibility (from 05/11/2021), [FCA CF] Material risk taker (from 01/01/2023), CF30 Customer (09/08/2012 to 08/12/2019) at the firm.
- Christian Resch. Listed on the FCA Register as having held SMF18 Other Overall Responsibility (from 07/07/2023), [FCA CF] Client dealing (from 01/04/2023), [FCA CF] Material risk taker (from 01/04/2023) at the firm.
- Simon Richard Maurice Dangoor. Listed on the FCA Register as having held SMF18 Other Overall Responsibility (from 05/01/2026), [FCA CF] Client dealing (from 09/12/2019), [FCA CF] Material risk taker (from 09/12/2019), CF30 Customer (01/11/2007 to 08/12/2019) at the firm.
Review page sources: FCA Register (FRN 147212) · Companies House (02474901). Public records, provided for transparency.
