Goldman Sachs is to launch a range of actively managed ETFs in Europe. The first of these is going to be the Goldman Sachs Alpha Enhanced US Equity Active UCITS ETF, the first of a series of five ETF launches on the cards for the US asset manager.
The new listings will be rolled out across several different European stock exchanges, including the London Stock Exchange. The active ETFs will be managed by the quantitative investment strategies team at Goldman Sachs Asset Management. This team draws on sophisticated data analysis to be able to identify corporate and geographic growth prospects.
Goldman Sachs is already beefing up its presence in the European active ETFs market with several fixed income funds already listed in the region. According to Hilary Lopez, who heads the third party wealth business for Goldman Sachs NYSE:GS in Europe, investors are increasingly looking for active management capabilities within a listed Exchange Traded Fund wrapper.
Goldman Sachs said its data-driven approach will draw on the firm’s experience to deliver investors its informational edge and differentiated returns.
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Central Bank of Ireland and ETF transparency
The Central Bank of Ireland, the Irish financial regulator, is updating its position around the issue of ETF transparency. Traditionally, ETFs have been fully transparent, allowing public monitoring of fund holdings, but this has deterred the launch of active ETFs, as fund managers fear traders may exploit their positions.
The CBI has previously required full daily portfolio transparency from ETFs domiciled and regulated in Ireland but is now going to permit disclosure on a periodic basis. Some information will still need to be disclosed on a daily basis and full portfolio holdings will still need to be disclosed at the end of each calendar quarter.
Investors will be able to see what information will be disclosed – and when – from the ETF’s UCITS prospectus.
The move by the CBI could be because of the growing number of active ETFs being listed on European stock exchanges, including in London. Ireland is keen to remain competitive as a financial centre versus European rival Luxembourg, which now allows so-called semi-transparent ETFs for those funds domiciled in Luxembourg.
The proposed Irish changes look very similar to the existing regime in Luxembourg for ETFs. “The new transparency regime not only provides a clear pathway for active ETF adoption but also creates a regulatory “safe harbor,” reducing uncertainty and encouraging more managers to enter the market,” said Kyle Frasca, a partner with EY in Luxembourg.
REX Shares and Tuttle team up on leveraged GameStop ETF
REX Shares and Tuttle Capital Management have teamed up to launch two new 2x leveraged ETFs within the T-REX suite: the T-REX 2x Long GME Daily Target ETF [CBOE:GMEU] and the T-REX 2x Long SNOW Daily Target ETF [CBOE:SNOU]. These ETFs are the first and only ETFs to offer 200% leveraged exposure to the daily price movements of GameStop Corp NYSE:GME and Snowflake Inc NYSE:SNOW respectively, providing investors with amplified directional exposure to these individual equities.
“The addition of GMEU and SNOU to the T-REX suite continues on our goal to provide first to market leverage access to the market’s most dynamic companies,” said Scott Acheychek, COO of REX Financial. “GameStop’s move to add Bitcoin to its balance sheet signals adaptability and growth potential, while Snowflake’s leadership in cloud data warehousing and AI positions it for continued expansion.”
With a growing suite of over 20 products, the T-REX ETFs have pioneered first-to-market offerings that provide target 2x or -2x leveraged exposure to the daily price movements of leading names such as Tesla, Nvidia, Strategy, Netflix, Google, Apple, Microsoft, Robinhood, Trump Media, Roblox, spot Bitcoin, and spot Ether.
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