Lauren Gibbons
2 min read
Goldman Sachs Group Inc. (GS) will wind down its ETF Accelerator platform, a digital platform that helps clients launch, list and manage their own ETF products, and shift its servicing to Tidal after coming to market in 2023.
Tidal Financial Group, a U.S.-based, white-label ETF provider, will provide servicing responsibilities for two trusts encompassing 12 ETFs launched under the Accelerator program, the firms told Bloomberg News.
A Goldman Sachs spokesperson said, “We have spent the past few months working with the independent trust to determine the best path forward for our ETF Accelerator business and collectively decided that moving the platform to Tidal was the best long-term solution for our clients and the continued success of their funds.”
It was previously reported in December that Goldman Sachs was exploring the sale of its ETF Accelerator platform.
The European arm of its business has just one client—Ultramarin, a German asset manager—which has launched two ETFs with the firm.
The AI-Enhanced Eurozone Equities UCITS ETF (EUAI) was the first to launch on the Goldman Sachs ETF Accelerator platform in Europe in June of 2024. The strategy, which utilizes an AI-driven stock selection model that predicts the monthly excess return for each stock within the investment universe of eurozone equities, has amassed $91 million since its inception, according to data from Trackinsight.
This was followed by a second launch in January of the AI-Enhanced US Equities UCITS ETF (USIQ), a similar strategy capturing U.S. equities—which has gathered $11 million since launching—based on a holistic AI equity selection model developed by Ultramarin that forecasts the monthly excess return for each stock in the investment universe.
Meanwhile, Goldman Sachs ETF Accelerator EMEA head Rebecca Anderton-Davies departed last October a little over a year-and-a-half after entering the role.
This article was originally published at etf.com sister publication ETF Stream.
