Goldman Sachs Brings New Short-Term Treasury ETF to Market

goldman-sachs-asset-management-gsam-logoGoldman Sachs Asset Management today announced a new short-term treasury ETF, the Goldman Sachs TreasuryAccess 0-1 Year ETF (NYSE:GBIL).

The new fund began trading today on the NYSE Arca exchange with an initial $20 million in assets. Its reasonable expense ratio of 0.14% should give Treasury-focused investors a good reason to consider the new fund, which tracks the Citi US Treasury 0-1 Year Composite Select Index.

Goldman notes the fund is “the first ETF to offer same-day settlement of creations and redemptions in the short-term US Treasury market.”

From the press release:

“The bond trading environment has become more complicated. We wanted our first fixed-income ETF to provide investors a low cost way to obtain the credit quality and income they look for in the Treasury markets, but with greater transparency and ease of use,” said Michael Crinieri, GSAM’s Global Head of ETF Strategies.

GBIL will be jointly managed by GSAM’s Liquidity Solutions team and its Quantitative Investment Strategies team. The Liquidity Solutions team has managed money market and short-duration strategies since 1988 and has over $350 billion under management globally. The Quantitative Investment Strategies team was founded in 1989 and manages over $83 billion globally.

Goldman launched the fund to address sharply higher demand for Treasury-focused products in today’s ultra low-rate environment:

“We believe ETFs will continue to become a preferred vehicle for Treasury investing given the unprecedented level of demand for Treasuries as a result of recent regulation,” said Christina Kopec, Head of Product Strategy for Global Fixed Income.

We’ll be sure to follow up with more information and analysis of this new fund once it gathers some more assets and gets some trading time under its belt.

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