Michaela Sprenger, Friday, 26. November 2010, at 14: 12
Frankfurt (BoerseGo.de) – Goldman Sachs pronged now ETF business. After last year has the European issuer source starting at Goldman Sachs with Bank of America Merrill Lynch, Morgan Stanley and Nomura is involved, the American Bank has now entered the European ETF industry under their own name. Goldman Sachs structured investments II the new Goldman Sachs ETF platform in Frankfurt has its first shares ETF (ISIN: LU0529341090) placed at the start. Europe is still relatively underdeveloped market which offers even more potential in the ETF segment than the United States. However, Goldman Sachs claimed SEC for end of 2009 at the American financial services authority, to emit in the U.S. of ETFs.To date there are but in the United States still no index funds at Goldman Sachs.
The ETF regard – the underlying index is not the Euro STOXX 50, the DAX or another by investors favorite stock market barometer, but an in-house index – the Goldman Sachs absolute return Tracker index – making the ETF a rather unusual product. ETFs have common and higher market share, the classic indexes track. The Goldman Sachs index depicts a Hedgefondsstrategie and should be to market independently. “The index reflects the total return of a basket of long’ or short’ if market factors reflect.” “An algorithm the composition of the basket determines so that it most closely the performance of hedge funds as broad asset class”, Deutsche Börse shall communicate. ETFs that represent Hedgefondsstrategien already exists on the market. The first hedge funds ETF (ISIN: LU328476337) db x-trackers has 16. Launched January 2009.This ETF is that a hedge fund index composed of several index constituents and pursues the following strategies: equity hedge, equity market neutral, credit and convertible arbitrage, systematic macro and event driven. The ETF has a management fee of 0.90% per anno.
Also source has such a product on offer since September. BofAML hedge fund factor euro source ETF (ISIN: IE00B3NY0D27) shows the evolution of the Merrill Lynch factor model index with currency hedging against. “The index measures the performance of a hypothetical investment portfolio consisting of known and cash values of the following indices: S & P 500 and Russell 2000, MSCI EAFE MSCI emerging markets.” “The investment portfolio can take both long and short positions and is adjusted monthly,” source shared with the issue.The portfolio composition is based on algorithms of Merrill Lynch International with the aim of the hedge fund research Inc. weighted composite index map.The administration fee for this product is 0.70%.Just as the db x-trackers products this ETF is capital growth.