U.S. Markets close in 2 hrs 20 mins

Goldman ETFs Near Liftoff


Goldman Sachs (GS), the largest U.S. investment bank, is getting closer to launching its own exchange traded funds.

In a filing with the Securities and Exchange Commission dated May 4, New York-based Goldman Sachs revealed tickers and fund managers for its six “ActiveBeta” ETFs as well as tickers for its five passively managed ETFs.

Among Goldman the managers for the ActiveBeta ETFs are “Steve Jeneste, a managing director most recently oversaw portfolio management of macro and multi-asset strategies. Another is Raj Garigipati , vice president, who most recently served as chief risk officer for Goldman’s QIS unit,” reports Chris Dieterich for Barron’s.

Goldman’s planned actively managed funds include the Goldman Sachs ActiveBeta International Equity ETF (GSIE), Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM), Goldman Sachs ActiveBeta Europe Equity ETF (GSEU), Goldman Sachs ActiveBeta Japan Equity ETF (GSJY), Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) and the Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF (GSSC). [Goldman Wins ETF Approval]

Goldman’s index-based ETFs will include hedge fund strategies, such as a long-short product, an event-driven fund and other hedge fund tracking products.

Wall Street rivals such as J.P. Morgan Chase (JPM) have already stepped into the ETF arena. J.P. Morgan currently offers three ETFs: The JPMorgan Diversified Return Global Equity ETF (JPGE), JPMorgan Diversified Return International Equity ETF (JPIN) and the JPMorgan Diversified Return Emerging Markets Equity ETF (JPEM) , all of which come to market over the past year.

ETF Trends editorial team contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.