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Goldman Sachs Hedge Industry VIP ETF launches

First Published 3rd November 2016

Goldman Sachs Hedge Industry VIP ETF seeks to track an index of 50 stocks widely held by hedge fund managers.

New York - Goldman Sachs Asset Management (GSAM) has launched an ETF seeking to track the Goldman Sachs Hedge Fund VIP Index (the Index), a proprietary index maintained by GSAM.

The Index includes 50 "Very-Important-Positions" - US-listed stocks that most often appear in the top 10 holdings of over 650 hedge fund managers, managing over $700 billion in equity.1 GVIP is priced2 to shareholders at 45 basis points (bps) and will begin trading on the NYSE Arca on November 3, 2016 with $20 million in assets.

"We're thrilled to be able to package these high conviction investment ideas from a broad array of professional investors into a cost effective, tax-efficient and convenient ETF wrapper," said Michael Crinieri, Head of ETF Strategies at GSAM.

1 Source: GS Global Investment Research (GIR) as of September 30, 2016.

2 Source: ETF.com as of September 30, 2016. In seeking to track the Index, the holdings of the GVIP ETF are equal dollar-weighted at each quarterly Index rebalance. The average fee for equal-weighted US ETFs is 52 bps and the average fee for equal-weighted US Large Cap ETFs is 40bps.