Goldman Sachs Reorganizes 5 Thematic ETFs Into Innovate ETF, ‘GINN’

On Monday, Goldman Sachs Asset Administration (GSAM) introduced that the reorganization of its 5 thematic ETFs into the Goldman Sachs Innovate Fairness ETF (GINN) has been accomplished. GINN will begin buying and selling on the NYSE Arca, Inc. upon market open on November 9, 2020. GINN is a single ticker resolution that represents the 5 themes previously represented by the Goldman Sachs Thematic ETFs. The fund is competitively priced to traders at 50 foundation factors.

The 5 Thematic ETFs (every, an “Acquired Fund” and collectively, the “Acquired Funds”) that have been reorganized into GINN are:

On account of the Reorganization, the 5 themes represented by the Acquired Funds – Information-Pushed World, Finance Reimagined, Human Evolution, Manufacturing Revolution, and New Age Client – are actually mixed on an equal-weighted foundation in GINN.

“These themes, now mixed, supply traders a single-point resolution for publicity to the businesses we’ve recognized as driving technological innovation and secular development,” mentioned GSAM’s World Head of ETFs, Michael Crinieri. “By leveraging GSAM’s funding tradition, set atop the agency’s international platform, we will supply a easy, but highly-differentiated product that represents engaging worth at minimal price.”

Gathering GINN

GINN seeks to offer funding outcomes that intently correspond, earlier than charges and bills, to the efficiency of the Solactive Revolutionary World Fairness Index (the “Index”). The Index is owned and calculated by Solactive AG. The Index combines the 5 themes on an equal-weighted foundation to offer publicity to firms that will profit from technological innovation and the ensuing modifications within the economic system.

When the NYSE Arca, Inc. opens on Monday, November 9, 2020, shareholders of every Acquired Fund will maintain newly issued shares of GINN, the combination internet asset worth (“NAV”) (not the market worth) of which can equal the combination NAV (not the market worth) of the shares of such Acquired Fund held by such shareholders as of the valuation time specified within the Settlement and Plan of Reorganization (though such shareholders will obtain money for fractional shares).

The Reorganization was a tax-free occasion, and consequently, shareholders of the Acquired Funds should not anticipated to acknowledge a acquire or loss for federal earnings tax functions because of the Reorganization (besides any acquire or loss that will outcome from the receipt of money in lieu of fractional shares). The Surviving Fund has not commenced funding operations and doesn’t presently have shareholders. Detailed data on the Reorganization is contained within the Joint Data Assertion/Prospectus beforehand filed with the SEC.

The conversion ratios have been based mostly on the relative NAV per share of every Acquired Fund and GINN as of November 6, 2020, as listed beneath:

GINN issued roughly 6,150,000 new shares in reference to the Reorganization. Following the closing of the Reorganization, GINN’s complete belongings and NAV per share have been roughly $307,712,434 and $50.03 respectively.

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