Morningstar Rating

Fund Research and Analysis

by Karin Anderson
A team approach has served Goldman Sachs Mid Cap Value well.

The team behind this mid-cap value fund splits research down industry lines, and the analysts evaluate firms based on criteria deemed to be most important to their particular industries. For instance, the energy analyst focuses on firms' underlying cost structures and potential for growing reserves, whereas the financials analyst relies heavily on balance-sheet strength and returns on equity.  Read more 

Kudos

Great stock-picking in recent years.
Diversified mid-cap exposure.
Reasonable fees. Read more 

Risks

Adherence to the Russell Midcap Value Index could hurt it relative to more-flexible peers when larger caps rule the roost. Read more 

Strategy

This fund looks for stocks on an industry-by-industry basis, seeking companies that are trading cheaply relative to their industry peers. Strong cash flow and sturdy balance sheets are important characteristics.  Read more 

Management

A team of 10 portfolio managers runs this fund, Goldman Sachs Small Cap Value GSSMX, and Goldman Sachs Large Cap Value GSLAX. Each manager is assigned responsibility for specific sectors of the market. While Eileen Rominger was named global chief investment officer of GSAM in 2009, Andrew Braun and Sean Gallagher, who have worked on this fund since 2002, continue to co-chair the firm's value investment team.  Read more 

Inside Scoop

This fund's fortunes turned around when it abandoned a deep-value approach in favor of a relative-value strategy at the start of 2000. A team of analysts and managers chooses stocks and generally doesn't make huge sector bets.  Read more 

First Name
Last Name
Email Address
Zip Code
Create Password
Verify Password
(6-15 characters; case sensitive)

Picking Positions in Health Care 
Watch more 

View all of our analyst reports with a free trial to Morningstar.com Premium.