Goldman Launches New Future Tech ETF In Search Of The Next 175,000% Gainer
Looking for a 175,000% gain? There’s an ETF for that.
And (of course) it can be yours for a fee, from your fine friends over at Goldman Sachs Asset Management.
The mega bank has started a brand new actively managed ETF called the Goldman Sachs Future Tech Leaders Equity ETF that seeks to invest in technology companies with market caps under $100 billion.
The ETF will target names in both developed and emerging nations, according to a new report from Bloomberg.
The goal? Find the next microcap turned too-big-to-fail tech company “moonshots” that will help the bank stay on “the right side of disruption and innovation.”
And Goldman is putting at least some of its money where its mouth is. The investment bank plans on investing alongside of its clients in the ETF.
GSAM’s co-head of fundamental equities said: “It’s going to be another company’s chance to be up another 175,000% since its IPO. We’re working hard at finding those companies.”
Similar tech ETFs have been on a tear this year, with the popular Invesco QQQ Trust Series 1 ETF up over 20% and the QQQJ, a similar ETF but with slightly smaller tech names, up about 11% in the same period.
Mon, 09/20/2021 – 05:45
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