Goldman Sachs (NYSE: GS), the largest U.S. investment bank, filed plans with the Securities and Exchange Commission to possibly introduce as many as 11 exchange traded funds.
The filing, dated last Friday, marks the latest sign that Goldman is looking to expand its footprint in the ETF industry. “The company in July shifted a key executive to help widen its ETF product strategy but otherwise has been largely quiet on its plans to expand in the ETF sector,” reports Ashley Lau for Reuters.
Goldman’s SEC filing outlines its intent to possibly list five passively hedge fund-type ETFs and six actively managed ETFs under the “ActiveBeta” brand. Those actively managed funds include the Goldman Sachs ActiveBeta International Equity ETF, Goldman Sachs ActiveBeta Emerging Markets Equity ETF, Goldman Sachs ActiveBeta Europe Equity ETF, Goldman Sachs ActiveBeta Japan Equity ETF, Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF and the Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF.
Tickers and expense ratios for the ETFs were not found in the filing, indicating launches are not imminent. The funds, assuming they come to market, will trade on the New York Stock Exchange.
In October, it was reported that Goldman was a possible suitor for IndexIQ, the ETF issuer that specializes in alternative funds, but insurance giant New York Life announced its acquisition of IndexIQ earlier this month. [Goldman Eyes IndexIQ]
Goldman’s hedge fund ETF filings include plans for a long-short ETF, an event-driven fund and hedge fund tracking products.
ETF Trends editorial team contributed to this post.
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