Did You Purchase the Goldman Sachs MLP & Renaissance Fund symbol “GER” Before January 2020?

Attention investors who purchased stock symbol “GER” the “Goldman Sachs MLP Fund” before January 2020. GER was trading as high as $65 in 2018 and in 2020 crashed down to as low as $6.57. Despite oil and energy prices surging to new all time highs across the board the GER Goldman MLP fund currently only trades at $12.75 which represents an 80% drop from it’s all time highs.

Founded in September 2014, The Goldman Sachs MLP & Renaissance Fund and has over 15 million shares outstanding. It purportedly provides exposure to energy infrastructure assets that focus on North America including pipelines, storage tanks and processing plants. GER claims to be an attractive source of income for many investors. It has proven to be a classic “yield trap” where many retirees who are living on a fixed income bought into the Goldman Sachs Renaissance Fund thinking it could provide a stable income. However, those who bought before 2020 have only experienced devastating losses.

MLP income is taxed at ordinary income rates. The yield adjusted for taxes might not have been a suitable investment for retirees. The volatility in the oil and energy markets and their ancillary businesses over the last 20 years made this investment risky. If your broker or financial advisor recommended the Goldman Sachs MLP & Renaissance Fund “GER” before January of 2020 please call us. You may be able to file a claim that could result in a substantial recovery of your GER losses.

Soreide Law handles cases before the Financial Industry Regulatory Authority “FINRA” nationwide. We work on a success fee where we only get paid if we recover your losses. For a free consultation to see if you have a viable claim call (888) 760-6552 or email info@securitieslawyer.com and attorney Lars Soreide, Esq., will get back to you within 24 hours.