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May 11, 2020 | Press Releases

Goldman Sachs Asset Management Announces Licensing Agreement with Fidelity

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NEW YORK, May 11, 2020 – Goldman Sachs Asset Management, L.P. (GSAM) announced today that the firm has entered into a licensing agreement with Fidelity Product Services LLC (“Fidelity”) to use its proprietary active, semitransparent equity ETF methodology to develop new ETFs.1 Fidelity’s methodology will allow GSAM, subject to certain conditions, to deliver proprietary strategies without disclosing daily holdings, providing greater optionality for investors.

“GSAM is committed to remaining at the forefront of innovation for its ETF products, and this agreement only furthers this goal,” said GSAM’s Global Head of ETFs, Michael Crinieri. “Fidelity’s experience and expertise speak for themselves and we are excited to leverage its technology as we work to deliver clients greater optionality and diversity in an exciting new structure.”

“We are excited to have Goldman Sachs license Fidelity’s active equity ETF methodology in creating new products for their customers,” said Fidelity’s Head of ETF Management and Strategy Greg Friedman. “We believe our methodology is an industry leading approach, designed to operate seamlessly within the existing ETF market and provide investors with the greatest value.”

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 $14 billion in assets under management as of March 31, 2020.

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 $1.6 trillion in assets as of March 31, 2020. Goldman Sachs Asset Management 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.

Media Contact:

Patrick Scanlan | Goldman Sachs | 212-902-5400