Goldman Sachs Asset Management (GSAM) has finally entered the European ETF market with the launch of a US equity product.

The Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF (GSLC) is the European version of its flagship fund in the US which has over $6.5bn in assets under management (AUM).

GSAM began offering ETFs in the US in 2015 and has 19 ETFs available with over $14 billion in assets under management.

GSLC is listed on the London Stock Exchange with a management fee of 0.14%, 5 basis points higher than its American counterpart. Designed inhouse, it tracks the Goldman Sachs ActiveBeta U.S. Large Cap Equity index.

GSAM says it will list GSLC on several other exchanges in Europe in the near future. The firm has assigned BNY Mellon to deliver a range of asset services for the newly listed and upcoming ETFs.

The listing of GSLC is the first of a whole range GSAM is planning on launching over the next six months, with products offering exposure to various markets, asset classes and investment styles.

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Nick Phillips, head of the international retail client business at GSAM, said: “Our global clients are demanding more choice in their portfolios and we are excited to complement our existing fund range with ETFs that we believe can help simplify portfolio construction and contribute to superior risk-adjusted returns.

“The funds will be relevant to both retail and institutional clients. This is a significant addition to our international product offering and we are tremendously excited to enter the fast-growing European ETF market.”