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Goldman Sachs AM launches European ETF Business  

US group’s first index tracker will be European version of Goldman’s flagship US large cap equity ETF


David Robinson

Goldman Sachs Asset Management has announced the launch of its European Exchange Traded Fund business and its first product listing.

Its first ETF is the Goldman Sachs ActiveBeta US Large Cap Equity Ucits ETF.

This fund is the European version of Goldman’s flagship ETF in the US market which has AUM of over $6.5bn (€5.9bn).

The new ETF listed on the London Stock Exchange this week and will be listed on several exchanges across Europe in the near future.

The group said the ETF was “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.

Nick Phillips, head of the international retail client business at GSAM, said: “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.”

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