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GSAM to target UK with $10bn AUM ETF business in 2019

GSAM head of UK retail Kristina Teahan

Goldman Sachs Asset Management (GSAM) is planning to make its range of smart-beta ETFs available to the UK in 2019, Investment Week can reveal.

Launched in 2015, GSAM’s ETF business has swelled to around $10bn in assets under management in products that are managed by the firm’s quantitative investment strategies (QIS) team.

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Speaking to Investment Week, head of UK retail at GSAM Kristina Teahan said: “These ETFs are growing and growing as part of the market, and it is something we want to be able to offer here as well.

“Sometime next year, it looks like we will do that.”

Teahan (pictured) added that the smart-beta products, which the firm will “very likely” bring here, “resonate” well with investors because of the degree of human control.

She explained: “Investors are more open to these products because we also have a portfolio manager there.

“There is no stock in the portfolio that is there that does not have an economic rationale to it. There is no black box, there is a PM. 

“In events like the Brexit referendum, the PM could go in and have neutral exposure because it was an event that we could not judge the market with.

“Having that sort of oversight by a person resonates.” 

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Teahan also noted the significance with regard to the UK rollout of the June rehire of Peter Thompson, founder of Source ETF – which was purchased by Invesco PowerShares in late 2016 – as managing director and head of GSAM’s European ETF business

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Watch out for Teahan’s Big Interview in next week’s edition of Investment Week.


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