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Top Portfolio Products: Goldman ETF Tracks 'Best Ideas' Hedge Fund Positions

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Goldman Sachs Asset Management launched an ETF that tracks the Goldman Sachs Hedge Fund VIP Index, according to an announcement.

The Goldman Sachs Hedge Industry VIP ETF (GVIP) is the first ETF to track its index of 50 “Very-Important-Positions,” or stocks widely held by hedge fund managers.

The index includes the 50 U.S.-listed stocks that most often appear in the top 10 holdings of more than 650 hedge fund managers, managing more than $700 billion in equity. It’s equally weighted and includes stocks owned by hedge fund managers holding between 10 and 200 distinct equity positions, as reported in their most recent Form 13F filings.

“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.

GVIP, which began trading on the NYSE Arca, Inc. on November 3 with $20 million in assets, has an expense ratio of 45 basis points.

Goldman Sachs Asset Management started offering ETFs in September 2015 with the launch of Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC). Goldman now offers seven ETFs with $2.5 billion in assets as of September 30.

ASCI Funds Introduces its First ETF

Asset manager ACSI Funds launched its inaugural exchange-traded fund, the American Customer Satisfaction Core Alpha ETF (ACSI), according to an announcement. The new ETF capitalizes on the correlation between consumer sentiment and investment performance and aims to shed light on customer satisfaction for more than 350 well-known, national brands.

Wells Fargo Launches Low Volatility U.S. Equity Fund

Wells Fargo Asset Management introduced the Wells Fargo Low Volatility U.S. Equity Fund, which aims to deliver market-like returns with considerably less volatility than the U.S. equity market over a full market cycle. This is the first mutual fund offering that is a result of Wells Fargo’s September 2016 acquisition of Analytic Investors, an investment management team specializing in a range of active quantitative equity investment solutions.

Broadridge Launches Suite of Solutions for DOL Conflict of Interest Regulations

Broadridge Financial Solutions, Inc.(BR) announced a new suite of technology driven solutions – DOL Fiduciary Solutions, DOL Customer Communications, and DOL Compliance Reporting – to help the investment community comply with the upcoming Department of Labor’s conflict of interest fule.

Vanguard Introduces “Financial Planning Perspectives” Series

Vanguard launched a new series of white papers called “Financial Planning Perspectives” that are designed to distill complex financial planning and wealth management topics into actionable investment strategies for investors and financial advisors.

Direxion Adds 2x Leveraged ETF for Chinese Internet Stocks

Direxion added a leveraged ETF to its expanding lineup, according to an announcement. The Direxion Daily CSI China Internet Index Bull 2X Shares (CWEB) seeks to achieve 200% of the daily performance of the CSI Overseas China Internet Index.

— Read the November 2 top portfolio products roundup.


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