Industry Updates

Details of Goldman Sachs AM's European ETF range revealed

Tom Eckett

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Goldman Sachs Asset Management (GSAM) is set to make its first foray into the European ETF market with a seven-strong range.

The suite was approved by the Central Bank of Ireland earlier this year and it appears the asset management giant will be bringing its US strategies over to European shores with all seven approved ETFs having a US counterpart.

The seven ETFs include three equity and four fixed income products. All four fixed income products will be tracking FTSE Russell indices. They are the Goldman Sachs Access Treasury 0-1 Year UCITS ETF, the Goldman Sachs Access US Investment Grade Corporate Bond UCITS ETF, the Goldman Sachs Access Emerging Markets Local Currency Bond UCITS ETF and the Goldman Sachs Access Emerging Markets USD Bond UCITS ETF.

One equity ETF will track the JUST U.S. Large Cap Diversified index, the Goldman Sachs JUST US Large Cap Equity UCITS ETF, while two will track ActiveBeta indices, the Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF and the Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF.

The asset manager is one of the last US juggernauts to enter the European ETF market with JP Morgan, BMO and Franklin Templeton all launching ranges over the last few years.

Signs of entry came to fore last year when Source founder Peter Thompson (pictured) was re-hired to head up the European ETF operation last June.

At the time, an internal email from Nick Phillips, head of international retail client business at GSAM, said: “We see strong demand in this category and are excited to bring an innovative and cost-efficient suite of products to European clients.

“This offering will complement our global, broad and deep expertise across asset classes and builds on the success of our fast-growing US ETF business. Peter brings decades of experience and has been a pioneer in the European ETF market.”

GSAM launched its US ETF business in 2015, which now totals 17 products with around $10bn assets under management.

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