Goldman Sachs ETF ICAV GSAM Launches European ETF Business (6167N)
September 26 2019 - 4:30AM
UK Regulatory
TIDMGSLC
RNS Number : 6167N
Goldman Sachs ETF ICAV
26 September 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
London - 26(th) September 2019 - 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(Ò) 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.
+++
Media contacts
Joseph Stein, Goldman Sachs, +44 20 7774 4080
Andrew Wilde or Sarah Cowburn, Smithfield, +44 20 3047 2000
About Goldman Sachs Asset Management
GSAM is the asset management arm of The Goldman Sachs Group,
Inc. (NYSE: GS), which supervises approximately $1.44 trillion in
assets as of June 30, 2019. Goldman Sachs Asset Management has been
providing discretionary investment advisory services since 1988 and
has investment professionals in all major financial centres around
the world. The company offers investment strategies across a broad
range of asset classes to institutional and individual clients
globally. Founded in 1869, Goldman Sachs is a leading global
investment banking, securities and investment management firm that
provides a wide range of financial services to a substantial and
diversified client base that includes corporations, financial
institutions, governments and individuals.
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