The asset management unit of Goldman Sachs will issue its first index fund on the Swiss stock exchange. The bank is targeting the segment with an expansion of its portfolio.
SIX, the Swiss stock exchange operator, welcomes a global player as issuer on its platform for exchange traded funds (ETFs). Goldman Sachs Asset Management, the fund business of the global U.S. bank, plans to list three exchange traded funds on the SIX exchange, the Swiss exchange said in a statement on Thursday.
The Goldman Sachs ETFs will give Swiss investors access to the biggest two economies of the world. The funds invest in Chinese bonds and U.S. bluechip stocks. The third of the three funds will invest its assets in emerging market stocks.
A Comparatively New Product Line
Goldman Sachs has started offering passive investment products in 2015 and manages about $14 billion in 19 different ETFs. The bank plans to expand its portfolio of ETFs substantially over the coming six-month period.
SIX is the third-largest platform for ETFs in Europe, having launched the segment in 2000. The Swiss exchange in the third quarter had more than 1,500 funds listed with a turnover of 40.5 billion Swiss francs ($41 billion).
