MutualFundWire.com: Two Shops Will Collaborate on ETFs
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Friday, September 14, 2012|
Two Shops Will Collaborate on ETFs
There's a new partnership in the mutual fund world.
Goldman Sachs are collaborating on ETFs, with ALPS agreeing to license Goldman Sachs' indices to use as benchmarks to create ETFs, according to a news release.
For comment from both shops, read the press release below.
Company Press Release
ALPS, Goldman to Team Up on Exchange-Traded Products
Collaboration Expected to Drive Innovation for ETP Investors
DENVER- ALPS Advisors, Inc. (“ALPS”), today announced that it has entered into an agreement with Goldman, Sachs & Co. (GS) to collaborate on exchange-traded products (ETPs), bringing together a shared focus on innovative investment solutions. ALPS will enter into an agreement to license Goldman Sachs’ proprietary indices which will be used as benchmarks to create exchange traded funds.
As an asset manager ALPS brings an expertise across a variety of strategies and product structures. ALPS is the advisor to open-end, closed-end and ETF products with $6.6 billion in assets under management.
“ALPS is excited to work with Goldman, Sachs & Co.,” said Tom Carter, President of ALPS. “We believe our collaboration will benefit both firms and more importantly, benefit our shared ETP investors.”
Federico Gilly, managing director and head of the Equity Sales Strats and Structuring Group for the Americas at Goldman Sachs, said, “We look forward to working with ALPS to achieve our shared goal of providing ETP investors with thoughtful index based investment alternatives and market exposures.”
Goldman Sachs’ New York-based ETP structuring team, which is part of the firm’s Securities Division, specializes in creating indices for a wide range of investor classes.
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