Goldman Sachs AM Expands Active ETF Lineup with New Emerging Markets Bond Fund

Goldman Sachs AM (GSAM) has listed a new actively managed bond ETF on the London Stock Exchange. The Goldman Sachs Emerging Markets Hard Currency Bond Active UCITS ETF began trading today, December 15, 2025.

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Hilary Lopez, head of the EMEA Third Party Wealth Business at Goldman Sachs Asset Management

The fund, identified by the ticker GEMB and ISIN IE000M3UHD88, provides exposure to debt issued by emerging market governments and corporations denominated in “hard” currencies like the US dollar, euro, and British pound.

Fund Strategy and Management

The ETF’s objective is to achieve a long-term return through active investment. Its policy mandates that at least two-thirds of the portfolio be allocated to fixed income securities from emerging markets issuers, which can include both investment-grade and high-yield bonds.

The fund is managed by GSAM’s Fixed Income and Liquidity Solutions team. While it uses the J.P. Morgan EMBI Global Index as a performance comparator, managers have full discretion to deviate from the benchmark’s composition. This means the fund’s returns may differ materially from the index.

Strategic Expansion by Goldman Sachs

This listing is part of a strategic push by Goldman Sachs to grow its suite of active UCITS ETFs. GEMB is one of three new active fixed-income ETFs launched simultaneously, alongside funds focused on global and euro-denominated government bonds.

Key Fund Details

The following table summarizes the core specifications of the newly listed ETF.

The launch provides European investors with a new tool for accessing emerging markets debt through an active ETF structure, combining the trading flexibility of an exchange-traded product with GSAM’s discretionary bond management.

Source: ETFWorld.co.uk