Goldman Sachs Asset Management has launched its first actively managed exchange-traded fund that invests solely in Indian equities, a spokesperson confirmed April 4.
Goldman Sachs India Equity ETF, trading under the ticker GIND, seeks long-term capital appreciation through stand-alone exposure to the Indian equity market.
The ETF is a stand-alone vehicle and not a converted mutual fund, the spokesperson said, but it is led managed by Hiren Dasani, who is lead portfolio manager of GSAM’s India equity strategies, which have about $5.8 billion in assets under management.
Dasani also serves as co-head of emerging markets equity at the firm.
“India offers compelling long-term growth drivers, including a strong domestically driven economy, key structural reforms, and a profitable and diverse corporate universe,” GSAM said in a statement. “With a robust real GDP growth and earnings growth profile, India stands out among large global economies. The India equity market is one of the least correlated with global equities, providing a vast and diverse range of investment opportunities.”
GSAM has a total of $3.1 trillion in assets under supervision.
