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GSAM launches European ETF business


Goldman Sachs Asset Management has launched its European ETF business with its first fund, the Goldman Sachs ActiveBeta U.S. Large Cap Equity UCITS ETF (GSLC).

This fund is the European version of Goldman’s US flagship ETF which has assets of over USD6 billion and is the largest multi-factor equity ETF in the world. 

GSAM writes that the new ETF listed initially on the London Stock Exchange 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 based on in-house investment strategies.

GSAM writes that their new European ETF range is designed to be complementary to GSAM’s active fund range and is intended to be combined together or used as part of broader, diversified portfolios to help clients optimise and simplify their existing investments.
Nick Phillips (pictured), Head of the International Retail Client Business at GSAM, says: “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, says: “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 USD14 billion in assets under management.

Commenting on the launch, Lida Eslami, Head of Business Development, ETP, at the London Stock Exchange Group said: “We are pleased to welcome Goldman Sachs Asset Management as a new ETF issuer on our market. With over 1700 ETPs and average daily turnover of over GBP400 million, London Stock Exchange offers a diverse product range and deep pool of liquidity to investors. The issuance reflects the growing popularity of multi-factor ETFs of late, as investors become increasingly comfortable with smart beta strategies that incorporate factors such as value and low volatility into equity investment portfolios.”

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