Speaking of ETFs. GS nearly 12 more.
I posted this on another board the other day. They don't look to be as large as the popular ones but who knows, seems a lot at one time. Some of these small one commodity things (ETFs, funds) can really move sharply intraday like DUST, CRUD, and especially DGAZ last week when natty #s came out surprise day after crude #.
Goldman plans nearly 12 ETFs
December 15, 2014, 3:25 P.M. ET
Goldman Sachs Outlines Plans for Nearly a Dozen ETFs
By Chris Dieterich Barrons.com blog
Goldman Sachs Group (GS) filed with regulators on Friday for nearly a dozen exchange-traded funds, the latest step for the bank’s asset-management arm to enter the $2 trillion U.S. ETF market.
The filing outlines Goldman Sachs Asset Management‘s plans for six “ActiveBeta” stock ETFs. The filing shows that two of these will focus on U.S. stocks, while four others will be linked to international stocks.
Also revealed in the filing are plans for five hedge-fund ETFs that will track homemade indexes and provide exposure to hedge-fund styles including long/short, event-driven and global macro.
Friday’s update follows Goldman’s move in September to seek permission to launch a slew of ETF types.
Reuters’ Ashley Lau notes that Goldman’s most recent filing is the clearest picture yet for what form the company’s ETF strategy will take:
“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.”
News reports in October said Goldman was in the hunt to buy alternative ETF provider IndexIQ. But New York Life snapped up IndexIQ earlier this month.
A host of asset managers, including J.P. Morgan Asset Management and Fidelity Investments, have come to market recently with their own ETFs.
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