Goldman Sachs Asset Management hired BNY Mellon Asset Services to provide fund accounting, transfer agency, depository, custody, paying agent and common depository services in its newly launched UCITS exchange-traded funds, GSAM spokesman Patrick J. Scanlan confirmed.
GSAM launched its European ETF business on Wednesday, and the first fund in that business is the Goldman Sachs ActiveBeta U.S. Large Cap Equity UCITS ETF, the European version of the manager's flagship U.S. ETF, which has $6.5 billion in assets under management.
The new ETF was listed on the London Stock Exchange on Wednesday and will appear on several European exchanges in the near future, a Goldman Sachs news release said.
