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.
