Goldman Sachs Asset Management has launched an energy infrastructure ETF to give investors broader exposure to the energy sector, the firm announced today.
The Goldman Sachs North American Pipelines & Power Equity ETF (GPOW) was designed to provide results that closely correspond, before fees and expenses, to the performance of the Solactive Energy Infrastructure Enhanced Index.
The fund uses the research of the Goldman Sachs Asset Management energy team for the base for the investments. It is designed to provide opportunities in energy infrastructure securities, such as pipelines and electrical grids, and aims to provide active management strategies, Goldman Sachs Asset Management said. The ETF also is designed to be tax efficient, the firm said.
“We have designed a product for clients that we feel provides more complete exposure to the energy infrastructure sector relative to other investment options—including conventional energy businesses, master limited partnerships, and renewable companies—while also being packaged in a tax efficient vehicle that applies the principles of active management in a rules-based framework,” Kyri Loupis, co-chief investment officer of the liquid real assets business in fundamental equity within Goldman Sachs Asset Management, said in a statement.
Michael Crinieri, global head of ETFs at Goldman Sachs Asset Management, added in a statement, “The launch of GPOW furthers our commitment to the energy sector by delivering a transparent and innovative investment solution that meets our client’s needs. GPOW’s underlying index was developed with input from our energy specialists and reflects the global breadth and expertise of our franchise, combined with the fundamental thought process of our fundamental equity portfolio managers”