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Goldman Sachs Readies ETF Launch

MarketsMuse blog update profiles Goldman Sachs preparing for a launch of its own ETFs. Goldman Sachs is the largest U.S. investment bank and they are finally going to make the move to become a huge player in the ETF industry.  The firm has completed all its necessary paperwork with the SEC as of May 4th for its six ETFs. These six new ETFs include: Goldman Sachs ActiveBeta International Equity ETF (GSIE), Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM), Goldman Sachs ActiveBeta Europe Equity ETF (GSEU), Goldman Sachs ActiveBeta Japan Equity ETF (GSJY), Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) and the Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF (GSSC). This MarketsMuse blog update is courtesy of ETFTrends’ Tom Lydon and his article, “Goldman ETFs Near Liftoff“, with an excerpt below. 


Goldman Sachs (NYSE: GS), the largest U.S. investment bank, is getting closer to launching its own exchange traded funds.

In a filing with the Securities and Exchange Commission dated May 4, New York-based Goldman Sachs revealed tickers and fund managers for its six “ActiveBeta” ETFs as well as tickers for its five passively managed ETFs.

Among Goldman the managers for the ActiveBeta ETFs are “Steve Jeneste, a managing director most recently oversaw portfolio management of macro and multi-asset strategies. Another is Raj Garigipati, vice president, who most recently served as chief risk officer for Goldman’s QIS unit,” reports Chris Dieterich for Barron’s.

To continue reading about Goldman Sachs preparing  for the launch of its six “ActiveBeta” ETFs, click here.


Goldman Sees Gold in ETF Market-

Extract below courtesy of Forbes.com

In what comes as the latest move by Goldman Sachs to grab a larger share of the rapidly-growing exchange-traded fund industry, the investment banking giant is looking to launch as many as 11 new ETFs in the near future. Goldman filed a request with the SEC last Friday (December 12) to list six ETFs that will rely on smart-beta investment strategies under the new ActiveBeta brand name, and another five ETFs that are hedge fund-themed. While the bank intends to list these ETFs on the NYSE Arca exchange, it has not revealed tickers or expense ratios for any of them.

Goldman has been looking for ways to grow its asset management business since the economic downturn of 2008, as it faces increasing pressure from regulators as well as investors to increase the share of less volatile revenue streams in its trading-focused business model. The increasing popularity of ETFs over recent years made the industry a top priority for Goldman, with the bank first revealing its intent in September by seeking the SEC’s approval for a series of active ETFs (see Goldman Details Plans To Foray Into Active ETF Market). Goldman was also involved in talks to acquire the New York-based ETF provider IndexIQ in October. Notably, Goldman’s decision to launch these 11 new ETFs comes shortly after IndexIQ’s acquisition by New York Life Insurance.


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