Alternative Investments/ESG: Goldman Sachs Launches Muni Bonds ETF With ESG Focus
The new Goldman Sachs ETF provides exposure to securities labeled “green, social or sustainable.”
Goldman Sachs Asset Management has launched the Goldman Sachs Community Municipal Bond ETF, which aims to maximize tax efficiency by providing exposure to investment-grade, tax-exempt municipal securities.
The ETF seeks to track the Bloomberg Goldman Sachs Community Municipal Index and has screens for social and environmental factors. By focusing on one- to 15-year maturities, the portfolio aims to deliver diversified market exposure with lower duration and higher credit quality. (NASDAQ)
“Our goal was to really focus on a broad diversified exposure to the one-to-15 year space, with returns that were in line with an intermediate index and still make sure that we are focusing on some of the projects that are going to help drive these municipalities towards a more resilient future,” Alexa Gordon, municipal bond portfolio manager at Goldman Sachs Asset Management, told etf.com.
Investors’ ESG priorities would be met by the fund’s targeted allocation into municipalities and projects with positive impact such as in education, healthcare, clean energy, and more community related initiatives.
The ETF has an expense ratio of 0.25%.
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