Goldman Sachs Plans to Launch ActiveBeta ETFs
Switching gears from the glory days of managing the Global Alpha hedge fund, Goldman Sachs Asset Management (GSAM) wants a piece of the US$ 2 trillion U.S. exchange-traded fund (ETF) industry. The ETF market continues to grow in weight and popularity.
In December, Goldman Sachs filed papers and revealed plans for 11 exchange-traded funds that embrace smart beta and hedge fund replication. Goldman Sachs’ version of smart beta has been trademarked “ActiveBeta” and a name of one of the hedge fund replication ETFs is called Goldman Sachs Equity Long Short Hedge Fund Tracker ETF.
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Goldman Sachs ETFs
|Smart Beta||Hedge Fund Replication|
|Goldman Sachs ActiveBeta International Equity ETF||Goldman Sachs Multi-Strategy Hedge Fund Tracker ETF|
|Goldman Sachs ActiveBeta Emerging Markets Equity ETF||Goldman Sachs Relative Value Hedge Fund Tracker ETF|
|Goldman Sachs ActiveBeta Europe Equity ETF||Goldman Sachs Equity Long Short Hedge Fund Tracker ETF|
|Goldman Sachs ActiveBeta Japan Equity ETF||Goldman Sachs Event Driven Hedge Fund Tracker ETF|
|Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF||Goldman Sachs Macro Hedge Fund Tracker ETF|
|Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF|
Source: SEC Filing
Smart Beta Acquisitions
In April 2014, Goldman Sachs acquired smart beta specialist Westpeak Global Advisors LLC. The tiny advisor had around US$ 300 million in assets at the time of purchase. Victory Capital Management purchased a smart beta provider and IndexIQ, a small ETF company, was sold to New York Life Investment Management, a unit of New York Life Insurance Co. IndexIQ will be part of New York Life’s Mainstay Investments platform.
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