Goldman Sachs Asset Management (GSAM) has expanded its ActiveBeta suite of exchange-traded funds (ETFs) by launching a new Goldman Sachs ActiveBeta Europe Equity ETF and the Goldman Sachs ActiveBeta Japan Equity ETF.
The funds aim to offer additional developed equities exposure across the globe, tracking investment opportunities in Europe and Japan, respectively.
The Europe Equity ETF and the Japan Equity ETF will track GSAM’s proprietary Goldman Sachs ActiveBeta Europe Equity Index and Goldman Sachs ActiveBeta Japan Equity Index, respectively.
The Europe Equity Index includes 391 securities from issuers across 15 developed market countries in Europe, while the Japan Equity Index comprises 309 securities.
The new ETFs will charge investors 25 basis points or 0.25% per year.
Goldman said it reduced the management fee on the Goldman Sachs ActiveBeta International Equity ETF, which was launched in November 2015, to 25 basis points (bps) from 35 bps.
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By GlobalDataGoldman ActiveBeta ETF range currently holds more than $1bn worth of assets.
GSAM global head of ETF strategies Michael Crinieri said: "The Goldman Sachs ActiveBeta® Europe Equity ETF and the Goldman Sachs ActiveBeta® Japan Equity ETF leverage our global expertise to deliver access to slices of the European and Japanese markets in a sophisticated yet cost-effective manner."
GSAM head of customized beta strategies within the quantitative investment strategies team Gary Chropuvka said: "The expansion of our ActiveBeta® suite of ETFs demonstrates our commitment to providing ETF investors true diversification through multi-factor solutions across the globe. The additions of GSEU and GSJY to our lineup are the latest additions to the next generation of ETF investing."