The exchange traded fund (ETF) industry is attracting a lot of attention in the investment world, and another financial behemoth has taken notice of the potential revenue stream in the ETF money-management business.
Goldman Sachs Group Inc. (NYSE: GS) has filed an application with the Securities and Exchange Commission (SEC) to create ETFs that track market indexes, reports Miles Weiss for MarketWatch.
The initial funds will try and reflect indexes based on the Brazilian, Chinese, Indian and Korean stock markets. The index for the initial ETF will track the top 85% of companies by market value in Brazil, China, India and Korea. Another company that is not affiliated with Goldman Sachs will be creating the index.
The ETFs offered will be traded on an exchange and are required to show the underlying securities on a daily basis.
For more information on new ETFs, visit our new ETFs category.
Max Chen contributed to this article.
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