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GSAM launches Paris-aligned Climate US large cap equity ETF in New York


Goldman Sachs Asset Management in New York has announced the launch of the Goldman Sachs ActiveBeta Paris-Aligned Climate US Large Cap Equity ETF – GPAL.

The firm writes that GPAL will track the ActiveBeta Paris-Aligned US Large Cap Equity Index, which uses the patented ActiveBeta Portfolio Construction Methodology and seeks to align with the goals of the Paris Climate Agreement to combat climate change and its effects.

“The launch of our Paris-aligned offering is a natural extension of our ActiveBeta suite of smart beta ETFs,” says Armen Avanessians, Global Head and Chief Investment Officer of Goldman Sachs Asset Management’s Quantitative Investment Strategies team. “This approach combines our well-established track record of managing diversified, multi-factor ETFs, with our ability to reflect many investors’ growing desire to reduce carbon emissions and more deliberately manage the transition to a low-carbon economy through our rules-based and transparent approach.”

By applying ActiveBeta strategies, Goldman Sachs Asset Management writes that it offers investors equity exposure to four well-established, academically grounded performance factors: good value, strong momentum, high quality, and low volatility. With over USD19 billion in assets in ActiveBeta ETFs and established track records, Goldman Sachs writes that ActiveBeta provides investors with the opportunity to outperform a traditional market-cap based benchmark, by employing a diversified set of well-established factors in a benchmark-aware, transparent, and lower cost manner.

“We continue to enhance our offerings of smart beta equity ETFs, working closely with our Quantitative Investment Strategies team to develop new and innovative products such as this,” says Goldman Sachs Asset Management’s Global Head of ETFs, Michael Crinieri. “GPAL will provide investors US equity exposure, aligned with the goals of the Paris Climate Agreement, in a competitively priced vehicle backed by the global platform and resources of Goldman Sachs.”   

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