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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.

GIC Raises Stake in China Oilfield Services

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On November 14 2018, Singapore’s GIC Private Limited acquired 2,982,000 H- shares in China Oilfield Services Ltd at an average price of HK$ 6.9883. GIC increased its ownership in China Oilfield Services to 9.07% from 8.91%. China Oilfield Services is an oilfield services company. It is a majority owned subsidiary of Chinese state owned company CNOOC Group.

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Carlyle Group Completes Deal on 19.9 Percent Stake in Fortitude Re

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More private equity firms are scooping up reinsurance assets. The Carlyle Group finalized its acquisition of a 19.9% stake in Fortitude Group Holdings, LLC, whose group companies operate as Fortitude Re (formerly DSA Re) from American International Group, Inc. (AIG) The transaction was first announced on August 1, 2018. Part of this deal included Fortitude Re inking an investment management agreement (IMA) whereby US$ 6 billion of assets will be committed into a variety of Carlyle investment strategies.

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RDIF, Indorama Corporation, and Yadran Oil Ink Joint Investment in Tartarstan

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The Russian Direct Investment Fund (RDIF), and Singapore-based Indorama Corporation Pte Ltd, a chemical corporation in Asia, and JSC Yadran-Oil, the company authorized by the Government of the Republic of Tatarstan, have agreed to jointly implement investment projects in Russia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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