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Goldman Sachs Plans to Launch ActiveBeta ETFs

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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.

SWFI First Read, January 16, 2018

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BP Plans to Take $1.7 Billion Charge to End Legal Claims on Deepwater Horizon

BP Plc is planning to take a US$ 1.7 billion charge to end legal claims regarding the disastrous 2010 Deepwater Horizon spill in the Gulf of Mexico.

Ethereum Co-Founder Leaves Fenbushi Capital

Vitalik Buterin, a co-founder of Ethereum, which is a cryptocurrency, exited China-based Fenbushi Capital. Fenbushi Capital was formed in 2015. Buterin is retaining his role as an advisor of Fenbushi Capital. Buterin dropped out of the University of Waterloo in 2014 when he got a Thiel Fellowship. This permitted him to work on Ethereum full time.

Kingdom Holding Sells Four Seasons Beirut Hotel Stake

Saudi Arabia’s Kingdom Holding sold its position in the Four Seasons Hotel in Beirut for roughly US$ 100 million. Blominvest, a unit of Blom Bank, advised on the transaction. The Four Seasons will continue to manage the property.

Mercer Signs Deal to Buy BFC

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Deutsche Bundesbank to Slowly Add Renminbi into Foreign Reserve Mix

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Deutsche Bundesbank’s executive board made a decision to invest in Chinese renminbi in the summer of 2017 as part of its foreign currency reserves. The German central bank on January 15, 2018, confirmed it will start investing in Chinese renminbi and also consider investing in additional foreign currencies. The move mimics the European Central Bank (ECB), which already considers the Chinese renminbi as a reserve currency. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Bpifrance, CDB and Cathay Capital Launch Third Cross Border Fund

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Bpifrance, China Development Bank Capital Co., Ltd. (CDB Capital) and Cathay Capital agreed to launch Sino French Midcap Fund II. This is the second fund the group is launching after the €500 million Sino French Midcap Fund I from June 27, 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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