Goldman Sachs Readies Its ETF Game
February 8th at 6:00am by Tom Lydon
Goldman Sachs wants to get in on the exchange traded fund (ETF) industry. But first, the financial industry giant has launched a mutual fund that holds ETFs covering a range of asset classes.
Goldman Sachs launched the Dynamic Allocation Fund, a fund made up of ETFs designed to help investors add wealth by seeking long-term capital appreciation, diversification and flexibility to reduce exposure in choppy markets, the firm said. [How Schwab's ETF Entry Upped the Ante.]
This launch came not long after Goldman filed to launch a suite of ETFs. Goldman already has a formidable ETF trading desk, as well. It’s just the latest in a growing line of well-established Wall Street names looking to enter what may be one of the financial sector’s fastest-growing industries. [PIMCO, Another Big ETF Player.]
As this competition gets deeper, the products will continue to evolve in favor of investors, as they will have the best products available to choose from. [Fidelity Gets In...Sort Of.]
For more stories about ETFs, visit our ETF 101 category.
