Goldman Sachs AM today announced the launch of two actively managed exchange-traded funds in the EMEA region, expanding its lineup of fixed income strategies in UCITS format.
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Article created by the editorial staff of ETFWorld.co.uk
Brendan McCarthy, global head of ETF Distribution at Goldman Sachs Asset Management
The new instruments are the Goldman Sachs Global Credit Plus Active UCITS ETF (ticker: GCPA) and the Goldman Sachs Global Income Bond Opportunities Active UCITS ETF (ticker: GIBO).
The launch follows a significant expansion of the firm’s European active platform, which placed 13 active ETFs across fixed income and equity during 2025. With the two new listings, GSAM’s active UCITS range reaches 14 products and total assets of $1.9 billion, according to Trackinsight data.
What the Two ETFs Do
GCPA (Global Credit Plus Active UCITS ETF) is built around diversified credit exposure, with a core in the global investment grade corporate bond market. The ETF also allocates to complementary segments: at launch, the high yield component stands at 6.88%, emerging markets at 9.64%, and securitized sectors at 8.08%. The reference benchmark is the Bloomberg Global Aggregate Credit index. The total expense ratio (TER) is 0.29%.
GIBO (Global Income Bond Opportunities Active UCITS ETF) invests across the entire global fixed income universe, directing capital toward the market segments that the management team judges to offer the most attractive income relative to risk at each stage of the economic and market cycle. The current allocation places 54.97% in corporate high yield bonds, 21.34% in investment grade corporates, and 11.20% in securitized assets. The benchmark is the Bloomberg Global Aggregate index and the TER is 0.40%.
Both funds are managed by Goldman Sachs Asset Management’s Fixed Income and Liquidity Solutions team, which combines top-down macro views with bottom-up security selection. The group has a 35-year history investing in fixed income and, as of March 31, 2026, managed over $1.97 trillion, with 390 professionals operating across regions, sectors, and markets.
Listings and Registrations
Unhedged share classes of the new ETFs are already listed on the London Stock Exchange and SIX Swiss Exchange. Hedged share classes will follow on the same exchanges and will also be available on Deutsche Börse and Borsa Italiana. The funds will be registered in key markets across the EMEA region.
Statements from Leadership
Brendan McCarthy, global head of ETF Distribution at Goldman Sachs Asset Management, said: “We continue to see strong demand for fixed income ETFs, particularly solutions that go beyond traditional index exposures. Building on the momentum of our EMEA active platform, we are expanding our offering with global income and credit strategies designed with the aim to deliver improved outcomes for investors.”
Kay Haigh, global co-head of Fixed Income and Liquidity Solutions at Goldman Sachs Asset Management, said: “As investors prioritise durable income and diversification, we are focused on delivering differentiated fixed income ETFs. Our approach combines fundamental research with flexible portfolio construction, seeking to enhance income potential and build more balanced and resilient portfolios.”
Context: GSAM Among the Top Ten Global Active ETF Providers
The two new listings continue a period of rapid growth for Goldman Sachs Asset Management’s ETF division. The firm entered the European active ETF market in January 2025 with the launch of its first two active fixed income ETFs on dollar- and euro-denominated investment grade credit, followed in April by the debut in active equity ETFs and in December by three additional bond strategies (global government, euro government, and hard currency emerging market debt).
The acquisition of Innovator Capital Management, finalized on April 2, 2026, has further strengthened the firm’s presence in the active segment. The deal, valued at approximately $2 billion, integrated 171 defined outcome ETFs with roughly $31 billion in assets. Following the transaction, Goldman Sachs Asset Management now manages approximately 240 ETFs globally, with total ETF assets of around $90 billion, placing it among the top ten global providers of active ETFs.
A Growing Market
The launch of GCPA and GIBO confirms asset managers’ interest in the active ETF format in Europe, historically dominated by passive trackers. Morningstar data shows that active ETFs listed in Europe gathered 19.1 billion euros in 2024, a sharp increase from 6.7 billion in 2023. By the start of 2026, GSAM had already closed significant distribution agreements, including a $400 million investment in its active ETFs by the fund-of-funds team at Handelsbanken.
| Product Name | Goldman Sachs Global Credit Plus Active UCITS ETF |
| ISIN | IE000TZOB1X7 |
| SEDOL | BV4MK19 |
| Currency | USD |
| Management Fee | 0.29% |
| Product Name | Goldman Sachs Global Income Bond Opportunities Active UCITS ETF |
| ISIN | IE000DHPZ1N9 |
| SEDOL | BV4MK31 |
| Currency | USD |
| Management Fee | 0.40% |
Source: ETFWorld.co.uk
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