This year, major U.S. indexes like the S&P 500, the Nasdaq Composite and the Dow Jones Industrial Average have given investors positive returns of 17.84%, 19.4% and 8.5%, respectively.

Investors heaved a sigh of relief as various macroeconomic data points like the producer price index (PPI), consumer price index (CPI), advance GDP growth rate estimates and labor market reports showed signs of improvement, leading to the belief that probably the worst is behind us. While the Federal Reserve is still looking to achieve its ambitious 2% inflation target, uncertainties remain over the lack of a timeline for interest rate cut initiation even after various Fed-friendly data came in July.The profitability of business is being impacted due to more than a two-decade high interest rate situation.

The CPI for the month of July moderately rose by 0.2% after falling 0.1% in June, whereas the PPI over the same period also edged up 0.1% against the street’s expectation of 0.2%. Decreasing CPI for the past three months, along with a mild rise in PPI last month, suggests that inflation was firmly back on a downward trend in Q2 of 2024.

Also, other favorable macroeconomic data, like the advance GDP growth rate estimates for Q2, have increased at an annual rate of 2.8% compared with the real GDP growth of 1.4% in Q1. Retail sales increased 1%, the largest increase since January 2023. The number of Americans filing new applications for unemployment benefits reached a nearly three-year high of 4.3% in July, suggesting that the labor market is slowly cooling off.

Investors who wish to diversify into various asset classes but lack professional expertise in managing funds, especially in a volatile market, can consider Goldman Sachs mutual funds. The fund house has a reputation as a trusted partner with long-term financial success.

Founded in 1988, Goldman Sachs Asset Management (GSAM) is a world-renowned investment management company. GSAM has provided portfolio management, design and advisory services to individual and institutional investors worldwide.

With over 2,000 employees, GSAM has 31 offices across the world to serve customers’ needs. The company has a team of more than 800 investment professionals who capitalize on Goldman Sachs’ technology, risk-management skills and market insights. The fund house provides individuals who wish to increase their wealth through various strategic investment funds.

GSAM offers investment solutions, including fixed income, money markets, public equity, commodities, hedge funds, private equity and real estate, through proprietary strategies, strategic partnerships and open architecture programs. The company’s strategies cover various asset classes, industries and geographies.

We have thus selected three Goldman Sachs mutual funds that have not only preserved investors’ wealth but also generated excellent returns amid market uncertainties. These funds have the majority of their investments in sectors such as technology, finance, retail trade, energy, utilities and industrial cyclical, which will help in long-term growth and preservation of wealth.

These funds boast a Zacks Mutual Fund Rank #1 (Strong Buy), have positive year-to-date (YTD), three-year and five-year annualized returns, minimum initial investments within $5000, and carry a low expense ratio. Notably, mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).

Goldman Sachs MLP Energy Infrastructure Fund (GMNPX Quick QuoteGMNPX - Free Report) fund invests most of its assets, along with borrowings, if any, in equity or fixed-income securities issued by domestic and foreign energy infrastructure companies. GMNPX advisors may also invest a small portion of the fund’s net assets in non-energy sectors.

Christopher A Schiesser has been the lead manager of GMNPX since Jan 10, 2023. Most of the fund’s exposure was in companies like Energy Transfer (12.5%), MPLX (12.2%) Sunoco (11.4%) as of May 31, 2024.

As of Jul 31, 2024, GMNPX’s YTD, three-year and five-year annualized returns are almost 19.4%, 23.8% and 10.1%, respectively. GMNPX has an annual expense ratio of 1.05%.

To see how this fund performed compared to its category and other 1, 2, and 3 Ranked Mutual Funds, please click here.

Goldman Sachs Large Cap Growth Insights (GLCTX Quick QuoteGLCTX - Free Report) fund invests most of its assets, along with borrowings, if any, ina broadly diversified portfolio of large-cap domestic and foreign equity investments that are traded in the United States. GLCTX advisors may also invest in fixed-income securities.

Sharanya Srinivasan has been one of the lead managers of GLCTX since Feb 28, 2024. Most of the fund’s exposure was in companies like Apple (11.0%), Microsoft (11%), and NVIDIA (7.7%) as of Apr 30, 2024.

As of Jul 31, 2024, GLCTX’s YTD, three-year and five-year annualized returns are almost 21.0%, 8.4% and 16.5%, respectively. GLCTX has an annual expense ratio of 0.65%.

Goldman Sachs Small-Cap Value Insights Fund (GSXPX Quick QuoteGSXPX - Free Report) invests most of its assets along with borrowings, if any, in a diversified portfolio of equity securities in small-cap U.S. companies. GSXPX advisors also invest in foreign issues.

Joseph Kogan has been the lead manager of GSXPX since Feb 29, 2024. Most of the fund’s exposure is in companies like Carpenter Technology (1.0%), Civitas Resources (1.0%) and Mr Cooper (1.0%) as of Apr 30, 2024.

As of Jul 31, 2024, GSXPX’s YTD, three-year and five-year annualized returns are almost 16.4%, 8.4% and 11.2%, respectively. GSXPX has an annual expense ratio of 0.83%.

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