DUBAI, April 10 (Reuters) - Dubai-based Mashreq

has entered a partnership with Goldman Sachs Asset

Management to offer discretionary investment services and tap

growing demand for professionally managed portfolios in the

Gulf.

As the number of high-net-worth individuals, keen for

sophisticated investment strategies, increases in the region, a

joint statement said services resulting from the collaboration

would be available from this month.

Discretionary investment services typically allow portfolio

managers to make buy and sell decisions on behalf of clients,

based on pre-agreed investment goals and risk appetite, without

needing client approval for each transaction.

The investment strategy is gaining traction globally as

affluent clients seek hands-off, professionally managed

portfolios that can adapt swiftly to market shifts while

aligning with their long-term financial goals.

"Our strategic collaboration with Goldman Sachs ( GS ) represents a

pivotal milestone in institutionalising our investment

platform," Vipul Kapur, head of private banking at Mashreq, said

in the statement. "This significantly enhances our capability to

cater to the evolving and sophisticated needs of our clients."

Fadi Abuali, co-CEO of Goldman Sachs Asset Management

International and co-CEO for MENA, said Mashreq's strong ties

with its customers make it a valuable partner.

The statement did not give precise detail on the

partnership.

Goldman Sachs Asset Management, the investment arm of the

U.S. investment bank, oversaw roughly $3.1 trillion in assets as

of December 31, and invests across fixed income, liquidity,

equity, alternatives, and multi-asset solutions.