09.26.2019

GSAM Launches European ETF Business

  • First product will be rules-based, multi-factor US Large Cap ETF
  • Fund range to expand over coming months and cover all major asset classes and geographies
  • Product range aims to be simple, smart and accessible

Goldman Sachs Asset Management (“GSAM”) today announced the launch of its European Exchange Traded Fund (“ETF”) business and its first product listing.

Its first ETF is the Goldman Sachs ActiveBeta U.S. Large Cap Equity UCITS ETF (TICKER: GSLC). This fund is the European version of Goldman’s highly successful flagship ETF in the US market which has AUM of over $6.5 billion and is the largest multi-factor equity ETF in the world currently.  The new ETF listed today on the London Stock Exchange and will be listed on several exchanges across Europe in the near future. It is designed to provide a better risk/return profile over a whole investment cycle relative to traditional market-cap weighted indices.

Over the next six months, GSAM is planning to launch a range of ETFs providing access to a number of markets, asset classes and investment styles. Many of these investment strategies have been developed in-house using the expertise and experience of GSAM. The ETFs are designed to be complementary to GSAM’s active fund range and are intended to be combined together or used as part of broader, diversified portfolios to help clients optimise and simplify their existing investments.

Nick Phillips, Head of the International Retail Client Business at GSAM, said: “Our global clients are demanding more choice in their portfolios and we are excited to complement our existing fund range with ETFs that we believe can help simplify portfolio construction and contribute to superior risk-adjusted returns. The funds will be relevant to both retail and institutional clients. This is a significant addition to our international product offering and we are tremendously excited to enter the fast-growing European ETF market.”

Peter Thompson, Head of GSAM’s European ETF Business, said: “GSAM ETFs will be smart, simple and accessible. The suite of products we plan to launch in the coming months will enable our clients to build diversified global portfolios using a mix of active and passive investment styles. We are focused on building this business for the long-term and believe we can provide superior choice and performance to our clients through this product range.”

GSAM began offering ETFs in the US in September 2015 and now has 19 ETFs in the US, with over $14 billion in assets under management.

Source: GSAM

 

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