A $2T-AUS Firm Adds a Muni Bond ETF
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Thursday, March 9, 2023

A $2T-AUS Firm Adds a Muni Bond ETF

A $2-trillion-AUS (as of December 31) asset manager's team is rolling out a passive muni bond fund.

Michael Crinieri
Goldman Sachs Asset Management
Managing Director, Global Head of ETFs
On Tuesday, the folks at Goldman Sachs Asset Management, L.P. (GSAM) [profile] launched the Goldman Sachs Community Municipal Bond ETF (GMUN on the NYSE Arca). The fund is a series of the Goldman Sachs ETF Trust.

GMUN comes with an expense ratio of 25 basis points. As of yesterday, it had $19.95 million in AUM.

GSAM serves as the new fund's investment advisor, and the fund's PM team includes a trio of vice presidents: Alexa Gordon, Todd Henry, and David Westbrook. The passive fund is designed to track the Bloomberg Goldman Sachs Community Municipal Index.

GMUN's other service providers include: ALPS Distributors, Inc. as distributor; Bank of New York Mellon as administrator, custodian, dividend disbursing agent, and transfer agent; Bloomberg Professional Services as index provider; and PricewaterhouseCoopers LLP as independent accounting firm.

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