Investment Product and Service Launches

GSAM announces first actively managed ETF; Lyxor Americas launches hedge fund program for institutional investors; Sanctuary adds solutions division platform and members; and more.

Art by Jackson Epstein

Art by Jackson Epstein

GSAM Announces First Actively Managed ETF

Goldman Sachs Asset Management (GSAM) has created GSST, an exchange-traded fund (ETF) offering exposure to a broad range of U.S. dollar denominated ultra-short duration bonds, U.S. government securities and other fixed-income securities at a cost of 16 basis points to investors.

GSST is GSAM’s first actively managed ETF and is listed on Cboe BZX Exchange.

“In the current rate environment, investors are increasingly seeking exposure to short-term strategies,” says Michael Crinieri, GSAM’s global head of ETF strategy. “We have constructed GSST to meet this investor demand, constructed with an innovative, diversified mix of government securities and credit, all delivered through the same lower-cost, high-value model that defines our fixed-income Access ETF products.”

GSST is GSAM’s second ultra-short fixed-income ETF after Goldman Sachs Access Treasury 0-1 Year ETF (GBIL), which seeks to track the FTSE US Treasury 0-1 Year Composite Select Index. It will be actively managed by GSAM’s Global Fixed Income team.

GSAM’s complete Access ETF suite includes Goldman Sachs Access Treasury 0-1 Year ETF; Goldman Sachs Access Ultra Short Bond ETF; Goldman Sachs Access Inflation Protected USD Bond ETF; Goldman Sachs Access Investment Grade Corporate Bond ETF; and Goldman Sachs Access High Yield Corporate Bond ETF.

Lyxor Americas Launches Hedge Fund Program for Institutional Investors  

Lyxor Asset Management Inc. (Lyxor Americas), an indirect subsidiary of Paris-based Lyxor Asset Management S.A.S. (Lyxor), has announced a new program enabling institutional investors to participate in stand-alone co-investment and selective hedge fund opportunities presented to Lyxor Americas by third-party managers. 

Opportunities available through the program are expected to include high conviction, concentrated, and/or bespoke investments offered outside of a manager’s other funds, according to Lyxor Americas. Investors participating in it can review and invest in individual opportunities arising from Lyxor’s relationships with approximately 100 hedge fund managers. This “opt-in” investment program allows participating investors to evaluate each investment opportunity. Each proposed opportunity is supposed to successfully complete a formal investment, risk and operational due diligence process by Lyxor Americas, prior to being made available through the program.

“Co-investments are playing an increasingly significant role in institutional investors’ pursuit of alpha and absolute returns,” says Andrew Dabinett, CEO of Lyxor Americas Lyxor. “With its 20-year history of managing hedge fund portfolios, Lyxor has built a far-reaching global network of partnerships with managers and we are well positioned to access and evaluate co-investment and bespoke opportunities for our clients in a thorough, timely, and cost-effective manner.”

Sanctuary Adds Solutions Division Platform and Members

Sanctuary Wealth (Sanctuary) has built a new division, Sanctuary OCIO Solutions, an outsourced chief investment officer (OCIO) platform providing advisers, their high-net-worth/ultra-high-net-worth clients, and institutional clients ways to manage investments through day-to-day investment practices, research, and decisionmaking.

According to the company, Sanctuary OCIO Solutions offers services including investment advice, research, execution, and reporting.

“The creation of Sanctuary OCIO Solutions underscores our commitment to serving the investment needs of advisers, their clients, and institutional investors,” says Sanctuary CEO and Founder Jim Dickson. “We now can provide the research, knowledge, investment expertise and fiduciary oversight that otherwise might not be accessible to independent advisers for their high-net-worth clients. Institutional clients, such as colleges and universities, foundations and endowments, and Taft-Hartley funds, can access our skilled resources and attain additional oversight through Sanctuary OCIO Solutions.”

Additionally, James Otley, Jr. has been named managing director of Sanctuary OCIO Solutions and serves as business development leader for the new division. Otley will partner with Sanctuary Wealth’s CIO Greg Hahn to offer expertise in investment management and administrative services.

Otley will also continue to serve his clients through Otley Private Wealth Management, an independent investment advisory firm serving high-net-worth clients and institutions and part of the Sanctuary Wealth network of independent advisory firms. Michele Stiff joins Otley in the new firm as vice president and chief operating officer of Otley Private Wealth Management.