BNY Mellon to provide asset services to Goldman Sachs Asset Management’s newly-launched range of ETFs for the European market
LONDON, Sept. 26, 2019 — BNY Mellon has been appointed by Goldman Sachs Asset Management (GSAM) to deliver a suite of asset services for its newly-launched European UCITS ETFs.
In addition to BNY Mellon’s market leading ETF solutions supporting ETF Order Management, PCF Production and AP Servicing, they will also provide fund accounting, transfer agency, depository, custody, paying agent and common depository.
GSAM launched its first ETF fund into the European market – Goldman Sachs ActiveBeta® U.S. Large Cap Equity UCITS ETF – on September 26. This is the first in a range of funds under the Goldman Sachs ETF ICAV structure. GSAM began its US ETF business in 2015 and now has over $14 Billion in assets under management.
GSAM chose the International Central Securities Depository (ICSD) model for its new Irish UCITS fund.
As a Common Depository with International Central Securities Depository (ICSD) capabilities, BNY Mellon services approximately US$2.9 trillion assets in the ICSD model and has been working with ETF managers in the UK and Ireland as they move to this structure, following regulatory and infrastructure developments driven by Brexit.
“GSAM ETFs will be smart, simple and accessible. The suite of products we plan to launch in the coming months will enable our clients to build diversified global portfolios using a mix of active and passive investment styles. We are pleased to be working with BNY Mellon for ETF servicing on this product range,” said Peter Thompson, Head of GSAM’s European ETF Business.
"We are delighted to support GSAM’s launch into the European ETF market,” said Robert Rushe, Head of ETF services for EMEA at BNY Mellon. “Our appointment bears testament to the quality of our ETF-specific technology, our scale and our team of ETFs experts. It also underscores our commitment to growing our ETF business in markets around the world.”
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of June 30, 2019, BNY Mellon had $35.5 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.