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August 14, 2019 | Press Releases

Goldman Sachs Asset Management Announces Agreement with Precidian Investments

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NEW YORK, August 14, 2019 – Goldman Sachs Asset Management (GSAM) announced today that the firm has entered into a licensing agreement with Precidian Investments, LLC. (Precidian) to use its proprietary actively-managed, exchange-traded funds (ETFs) structure, ActiveShares®.

The Precidian model will allow GSAM to deliver actively managed investment strategies in an ETF vehicle without disclosing holdings on a daily basis.

“As the ETF landscape continues to evolve at a rapid rate, GSAM is always looking for innovative solutions that we can bring to our clients,” said GSAM’s Global Head of ETFs, Michael Crinieri. “Precidian is a great partner and this agreement will allow us to provide clients with more options to diversify, while maintaining intellectual capital, where appropriate.”

GSAM began offering ETFs in September 2015 with the launch of the Goldman Sachs ActiveBeta® U.S. Large Cap Equity ETF (ticker: GSLC). It now has 19 ETFs with over $13 billion in assets under management as of June 30, 2019.

“We are proud to welcome GSAM to our growing list of partners leveraging the ActiveShares® ETF structure to create actively-managed, semi-transparent ETFs,” said Precidian’s CEO, Daniel McCabe. “Precidian’s platform provides our licensees with the ability to protect the findings of their research and development and offer their clients numerous efficiencies that they otherwise would not enjoy.”

For more information on the Goldman Sachs’ ETF offering, please visit www.GSAM.com/ETFs.


About Goldman Sachs Asset Management, L.P. (GSAM)

GSAM is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which supervises more than $1 trillion in assets as of June 30, 2019.1 GSAM has been providing discretionary investment advisory services since 1988 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments, and high-net-worth individuals.


About Precidian Investments

Precidian Investments is an industry leader in the creation of innovative financial products, specializing in exchange-traded fund (ETF) and mutual fund development, and associated trading and pricing technologies. Precidian designs and develops next-generation tools for the mutual fund industry, ETF providers and leading financial services institutions to meet the needs of today’s more sophisticated investors. Expertise in product development, trading, clearance, sales, technology, and securities law enables Precidian to more efficiently design and build cutting-edge financial instruments.

 

Media Contact:

Patrick Scanlan | Goldman Sachs | 212-902-5400